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funding gap emerging markets
Cambodia

Orm Sovankiry

  • Phillip Bank
  • Invest in microfinance
  • + 15 other investors
  • With a loan of EUR 6,000 Sovankiry is able to purchase natural fertilizer and increase the output of pepper.

    €6,000
    Amount
    3.00%
    Interest
    24 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€6,000
    Interest3.00%
    Maturity24 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 21 hours on 28 December 2016.

      The project

      Orm Sovankiry, 33, is married and lives with his wife and three school aged children in Tboung Khmum province. To earn a living, he and his wife have been planting pepper to earn as main income to support their family. Currently they have 2 hectares of farmland to grow pepper. They are working very hard in order to monitor the development and good health of each vine.
      This year, the weather conditions have been difficult in Cambodia, as the rain come late which make this couple spend a lot of money on gas to water the farm.

      Sovankiry, pictured with his wife from the farm, is asking for a loan to purchase natural fertilizer and adding fresh soil to increase the output. He is confident that this loan will allow him to increase daily income and to better support his family.

      Company namePhillip Bank
      CEOSovankiry Orm
      Founded2011-01-01
      LocationMemot
      SectorAgriculture
      Turnover€15,104.58
      Employees1

      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 2 jobs are created
      • With this investment 8 lives are improved

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