In mid-July, Sparkassenstiftung für internationale Kooperation (Savings Banks Foundation for International Cooperation) started its project work with the Cambodian microfinance institution SAMIC as new partner of the Regional Project for Indochina and Myanmar.
Founded in the 1990s as Cambodian Health Committee Credit Program, SAMIC was awarded a licence as microfinance institution in 2005.
SAMIC – Microfinance institution with social commitment
SAMIC’s offer of financial services particularly focuses on micro loans and insurance. 18 branch offices in nine Cambodian provinces render financial services to some 20,000 customers. SAMIC’s lending volume to customers currently totals USD 14 million.
The MFI is characterised by its strong social commitment: This includes donations in kind and in cash to hospitals and children’s homes as well as contributions to improve the hygienic conditions in rural households. In addition to that, SAMIC offers various trainings to its customers, for instance food packaging for street traders or programmes in the field of financial literacy or for the agricultural sector.
Promoting growth: Sparkassenstiftung supports SAMIC’s institutional development
Sparkassenstiftung supports SAMIC in its further institutional development by implementing a sustainable growth strategy, organising various measures to promote the financial literacy of customers and introducing loans for micro and small-scale entrepreneurs. A long-term expert seconded by Sparkassenstiftung and a consultant assigned by the Philippine project partner CARD work together with SAMIC on site in Cambodia.
Regional Project for Indochina and Myanmar
Within the scope of this regional project, Sparkassenstiftung renders support to microfinance institutions in Vietnam, Laos, Myanmar and Cambodia. The project aims to reinforce the network of the currently six local partner organisations. The partner MFIs are empowered to operate economically and socially responsible by professionalising their organisational structures and strengthening them on a sustainable basis. Thus, low-income households and micro and small-scale enterprises in the region take benefit, too, as the supported MFIs are enabled to offer them long-term access to customer-oriented financial services.
To learn more about the Regional Project for Indochina and Myanmar, please, follow the<link http: www.sparkassenstiftung.de en projects projekt regionalprojekt-zur-staerkung-des-mikrofinanznetzwerks-im-ehemaligen-indochina-und-myanmar _blank> link
Contact partners:
Stephanie Hagemann / Carina Lau
Sparkassenstiftung für internationale Kooperation
Simrockstraße 4
53113 Bonn
Phone: +49 228 9703 6620 / 6608
Fax: +49 228 9703 6613