CambodiaMeach Vannak
With a loan of EUR 6,400 Meach is able to purchase fertilizer and seeds and inrease her rice yield.
€6,400
3.00%
12 months
6 months
EUR
Currency| Amount | €6,400 |
| Interest | 3.00% |
| Maturity | 12 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Meach is 35 years old. She is married and living with her beloved husband in the village in Kampong Cham province of Cambodia. She is a farmer and has been cultivating rice since 2002. And her family income also aided by her husband who is a construction worker and operating in the rice farm with his wife after his work.
Because of the weather conditions farming has been difficult. With a loan Meach is able to purchase natural fertilizer and seeds for farming. The rest of the loan will be used to cover the hire farmland costs. She believes with this loan will allow her to increase her crop yields and as well as her family profits.
Local partner Kredit will provide this loan.
| Company name | Phillip Bank |
| CEO | Meach Vannak |
| Founded | 2002-01-01 |
| Location | Kampong Cham |
| Sector | Agriculture |
| Turnover | €22,315.59 |
| Employees | 2 |
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 1 job is created
- With this investment 4 lives are improved
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We have already contributed to Meach Vannak
Jan de WitA. PronkAad SmitsJeroen Rust