KHIEV Hiep
With a loan of EUR 5,400 Hiep is able to expand her farmland and increase her profits.
Verkefnið
Khiev Hiep, 44, is married and lives with her two children in the Kampong Cham province of Cambodia. She is a rice farmer to earn an additional income to support family, while her husband works in construction.
The weather conditions have been difficult for farming in Cambodia and it has caused food prices to skyrocket. In light of these economic difficulties, she is asking for a loan to expand her farmland. In order to increase her profits and possibly raise her standard of living.
Phillip Bank
Áhrif
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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