Maly
With a loan of EUR 17,400 Maly can replace her excavator and use it for community construction projects.
The project
Mrs. Sin Maly is married and lives with her husband in Kampong Cham provinces. To earn a profit, she sells sticky rice cake which cook in a bamboo and food which made from fish. This family also have an additional income from her husband who are farmer, growing rice on four hectares of farmland. Her husband also own excavator to dig the pond and water irrigation system in the village to have an extra income.
Seeing a good opportunity of having an excavator business, Mrs. Maly is asking for a loan from KREDIT to replace an old and small excavator for her husband. The new excavator, will allow her husband to do more construction many hour a day. To be repaid in 48 months.
Phillip Bank
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.
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