Thaneakea Phum: Supporting home improvement and small businesses with microfinance lending
Challenge: As in many parts of the developing world, access to finance is limited in Cambodia and many people struggle to obtain loans for mortgages, home improvement or to start a business.
Solution: In 2012, OPIC committed a $5 million loan to Thaneakea Phum Ltd., a Cambodian microfinance institution that will use the funds to expand lending to low-income borrowers.
Impact: The new lending supported by OPIC financing is expected to help as many as 5,000 borrowers access home improvement loans and individual loans. Most clients are based in rural areas and many of them are women. These loans will help low-income Cambodians improve the income generation potential of their home businesses and reduce economic vulnerability. This is especially important in rural areas, where people often do not have access to savings accounts.
This project was profiled in 2014