CambodiaHuot Darasy
With a loan of EUR 9,000 Darasy is able to buy cassava from farmers to resell.
€9,000
3.25%
36 months
6 months
EUR
Currency| Amount | €9,000 |
| Interest | 3.25% |
| Maturity | 36 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Huot Darasy lives with his wife in Tboung Khmum province. He grows and trades cassava to earn as main income, while his wife, Chhunneng pictured from grocery store, sells groceries at the local market for an additional income. The weather conditions have been difficult in Cambodia for these past years, and the price of cassava has been decreased which make his farming and trading business earns less profit.
However, he is asking for a loan to trade cassava from farmers in the village for the next harvest season and also invest in his wife grocery business.
| Company name | Phillip Bank |
| CEO | Darasy Huot |
| Founded | 2014-01-01 |
| Location | Memot |
| Sector | Agriculture |
| Turnover | €81,818.18 |
| Employees | 1 |
Impact
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.
SDG’s impacted
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.
- With this investment 3 jobs are created
- With this investment 12 lives are improved
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We have already contributed to Huot Darasy
Gerard de JongRik HaanenBernold NieuwesteegRon van EijkJan Meijberg