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Micro-Credit ProgramAs part of Sovann Phoum's economic initiatives, the Micro-credit program has been supporting extremely poor families through capacity building in small entrepreneurial skills, micro-financing (US$50 -250) and capital savings for income generating activities since March 2004. The program is operated in slum communities in Phnom Penh and its sub-urban areas. An average of 600 destitute families benefit from the program every year.
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BeneficiariesThe program caters to extremely poor to poor families living in slum, squatter, dumping, and re-settled areas, including those who are HIV/AIDS carriers or infected. Some of them have migrated from rural poverty-stricken areas, and are living in rented rooms or shelters.
How it worksBeneficiaries use Sovann Phoum's small loans for a variety of income generating activities, such as collecting and selling scraps, recycling plastic and metal waste, motorcycle repairing, construction work, motorcycle-taxi, domestic animal raising, crop growing, serving food, cakes and juice on the street, sales of vegetables, meat, fruit, and groceries on the street, at home, and at local markets.
In addition to financial services, Sovann Phoum also provides non-financial services, providing training in Marketing, Savings, Income & Expenditure, Entrepreneurship, Demand and other business concepts. For more detailed information, please refer to the document below.
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How You Can HelpAs a guideline, US$50-250 can help one destitute slum family to work towards generating a daily net income of US$3-5, enabling their family sustainable access to food, clothes, clean water, toilets, electricity and health services. Importantly, the family would be able to send their children to school.
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