The formation of community-owned and operated financial institutions is an important area of focus in our plan to help vulnerable communities escape the shackles of poverty.
Our work in this area primarily focusses on communities who don’t have access to this kind of support, which is crucial when it comes to enjoying meaningful and rewarding livelihoods.
According to World Bank data from 2017, only 22% of adults in countries like Cambodia have access to a bank account.
These institutions give these communities an opportunity to access micro-loans to start or expand their business, provide a safe way to save money, and help them expand their income. By using these funds, aspiring entrepreneurs can create businesses that enrich their lives and the lives of the people in their community.
It is with the support of these institutions that our program participants access basic financial services like setting up a bank account, building up their savings, accessing microfinance schemes, and even receiving basic financial education.
By working with these institutions, we achieve our goal of empowering communities through education, enterprise, and employment.
Find out more about our programs that involve the participation of key, community-level financial institutions.