Last week, Cufa Cambodia had the pleasure to welcome the delegates from the Australian Department of Foreign Affairs and Trade to Khtouy Boun, one of the Credit Unions(CU) established by Cufa through DFAT’s financial assistance.
During their visit, the delegates had the opportunity to meet with CU members, who expressed how the access to low interest loans for their businesses has created a positive outcome in their community. Up to this date, the Khtouy Boun CU has a total deposit of USD $10,554.88 in savings, resulting in a monthly interest of 1.5% and 2.5% for loans. Further to this, each member has access to receive loans that double their amount of saving deposited into the CU. As our staff continued demonstrating the achievements done by Cufa, they were proud to report that 50% of our members are female, including children who have started their financial journey from an early age.
After the visit to Khtouy Boun, our staff shared the achievements of another ANCP funded project in regional Cambodia, the Livelihoods Program. This program, unlike all others, has seen an enormous change in the past 15 months due to Covid-19. From liquid-soap making, to recycling, our staff shared the approach implemented to mitigate the risks of the pandemic, as well as the impact on the environment.
DFAT’s visit provides a bigger picture of the challenges, but also innovation that Covid has brought to our programs. Cufa along with DFAT’s assistance, will continue providing life-changing programs to the Asia-Pacific region.