CambodiaKung Sineat
With EUR 26,200 Sineat is able to purchase an extra stretch of farmland in order to grow more peppers.
€26,200
4.00%
48 months
6 months
EUR
Currency| Amount | €26,200 |
| Interest | 4.00% |
| Maturity | 48 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Sineat and her husband are farmers who lives with two children in Tboung Khmum province. they grow mangos on two hectares of farmland, grow rubber on three hectares of farmland, grow durian and rambutan (a kind of tropical fruits) on one hectare of farmland, and grow pepper on one hectare of farmland.
Before this couple become professional farmers, they have joined agricultural training class and learned from his neighbor who has many years of experience. Recently, the pepper plantation is making much more profit since the demand are from EU countries. There is no matter how much the product they have, the dealer are always buy all the pepper. The other products like mangos, durian, and rambutan are to supply the local market especially in the province where he live.
Since the pepper plantation is making more profit to support the family, Sineat and her husband are requesting for a loan to purchase one hectare of pepper plantation to earn more income. Must be repaid in 48 months.
| Company name | Phillip Bank |
| CEO | Sineat Kung |
| Founded | 2008-01-01 |
| Location | Tboung Khmum |
| Sector | Agriculture |
| Turnover | €46,252.63 |
| 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 Kung Sineat
Gert BaasErik HamelinkRobin RijnbeekEdwin TofieldFrans Wittenberg