With a loan of EUR 9,000 Pengnaim is able to purchase a small tractor to work on his pepper farm.
Yi Pengnaim is a hard-working farmer, growing pepper on one hectare of farmland since 2013 to earn as main income to support his family. Pepper plantation is making much more profit since the demand are from EU countries. There is no matter how much he sells the pepper, the dealer are always buy all the pepper.
Since the pepper plantation is making more profit to support the family, he is requesting for a loan to purchase a small tractor to work on his farm and grow more pepper.
|Company name||Yi Pengnaim|
Phillip Bank is a microfinance institution in Cambodia that invests in people and their businesses via Micro-loans. By providing working capital to local entrepreneurs, they enable people in Cambodia to further expand their businesses and reach their potential for business growth and job creation.
Micro-loans are an effective tool against poverty. Research has shown that communities with more viable small local businesses have more balanced economies and higher average prosperity levels. Their turnover mainly flows back to their communities, ensuring economic growth and stability. The capital provided by Phillip Bank works towards sustainably improving families' financial well-being in rural and urban communities.
With this project you are contributing to the following Sustainable Development Goals:
SDG 1. No poverty
SDG 8. Decent work and economic growth
Read more about the impact you can make through our platform and the SDGs on our impact page.
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Read more here on how every Phillip Bank project that appears on our platform invests in several local entrepreneurs.
- With this investment 3 jobs are created
- With this investment 12 lives are improved