With a loan of EUR 4,250 Ny can purchase farmland to grow more crops like rice. Also she can hire an employee.
Ny Sreng is married farmer, who lives in the Kampong Cham province with her husband and her only children. She cultivating rice to earn income, while her husband working as a construction foreman to aid the family income.
She approached Kredit about a loan of 5,000US$ to purchase farmland to grow more crops. She believes that this extra source of income will be sustainable and that the farmland can be a valuable tool to increase her standard of living.
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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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