Sovann Phoum provides microfinancing and savings services to extremely poor families living in slum communities in Phnom Penh, the capital of Cambodia. These loans allow the families to start and/or develop their business activities, which in turn enables them to generate income and provide their children with better food, care, and access to education.
People from all parts of Cambodia migrate to Phnom Penh to take advantage of the city's recent stability and economic growth. This has led to an increase in the number of people living in slums, squatter, dumping, and re-settled areas. It has also introduced social problems such as an income gap, homelessness, lack of access to education, child and sex exploitation, HIV/AIDS infections, and illicit drug abuse.
Sovann Phoum will disburse microloan support to extremely poor families for income generating activities, such as serving food, cakes and juice as well as selling vegetables, meats, fruits, and groceries. As a guideline, US$50-250 can help one destitute family work towards generating a sustainable daily net income of US$3-5.
Sovann Phoum strongly believes that under-privileged families are able to move out of extreme poverty when they are able to generate and sustain their income. This project will empower 30 disadvantaged families living in slum communities throughout Phnom Penh, Cambodia to improve their health and living conditions and enable them to send their children to school.