With EUR 12,400 Sreyneag is able to acquire 2 acres of additional farming land to support her business.
Mrs. Vong Sreyneag, 32, is married and lives with her husband and two children. She and her husband, Prom Kosal, are farmers. they have 3 hectares of cassava plantation and 4 hectares of rubber plantation. Before married, her husband is a medic and now he also works as a local doctor and sells some medicines from home to have an additional income to support the family. Kosal owns a pickup truck and this truck is used to transport agricultural products.
Since the farming is the main source of income of the family, Mrs. Sreyneag is asking for a loan to purchase another two hectares of cassava plantation. To be repaid in 48 months.
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 1 job is created
- With this investment 4 lives are improved