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Sovann Phoum Organization is working for the poor children and their family
Micro-Credit Program
Posted Date : 06-01-2016 [20]
Our Philosophy and Practices
Poverty can be reduced by different ways. One of the effective means of alleviating poverty is to generate and increase income of the people. Sovann Phoum strongly believes that under-privileged beneficiaries are able to move out of extreme poverty when they are able to generate and increase their income. And in order to generate income or start up income generating activities, these poor people need investment capital. Providing extremely poor families with access to micro-credit support has been one the main programs implemented by Sovann Phoum for several years. 
 
Our Experiences in Micro-credit
The Sovann Phoum’s current micro-credit team is the former project team of an international NGO, Enfants & Développement (E&D), which implemented an integrated program in Phnom Penh sub-urban areas since 1993. The Team has gained long experience in micro-credit support with extremely poor families in Phnom Penh relocated sub-urban areas.
 
Our Beneficiaries
Our beneficiaries of micro-credit and saving services are:
Extremely poor, very poor, and poor families living in disadvantaged areas, including slum areas, squatter’s areas, dumping areas, and re-settled areas of sub-urban and urban areas of Phnom Penh. Some of them migrated from rural poverty-stricken areas. This group represents 90% of the total beneficiaries;
HIV/AIDS carriers and HIV/AIDS infected members (less than 10%);
 
Those groups of people, regardless of sex, religious and political tendency:
o are physically and mentally able to conduct income generation activities, aged from 18 to 60 years;
o are running existing income generating activities;
o have some existing resources/capital for income generating activities;
o commit themselves to increasing their daily income;
o some of them, were unemployed and had no opportunity for income generating activities, but demonstrated high motivation, commitment and initiative to create a new income generating activity (with support from Sovann Phoum);
o are able to reimburse the loans and interests.
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