|Tuesday, 18 September 2012 09:27|
VisionFund Cambodia investing in a better life for children
VisionFund Cambodia is a licensed Microfinance Institution with a mission to provide financial services to help the poor liberate themselves from poverty. VisionFund Cambodia improves the lives of children by offering small loans and other financial services to families who need them. Our work empowers our clients to grow successful businesses which enable children to grow up with improved health and education. Working in partnership with World Vision we are committed to long-term change which will unlock potential for future generations.
Acknowledging that financial services are not the only tools for economic development and poverty alleviation, VisionFund Cambodia has forged synergistic partnerships with a variety of socially driven organizations. These networks have enabled greater outreach and social impact, and help to drive VisionFund Cambodia’s strategic approach, uniqueness and competitiveness.
In terms of Social Impact since 2011, we have designed several new loan products in cooperation with various partners to promote water hygiene, health, environmental protection, education and agriculture in rural Cambodia in addition to existing social products and services.
We strive to reach out to widows, people living with HIV/AIDS (PLHIV/AIDS), OVC (Orphaned Vulnerable Children) households, people with disabilities and disadvantaged groups. We offer scholarships to children of the best clients, deliver basis financial education, create employment opportunities for the community people as well as hire people with physical disabilities.
We had our 2nd social rating conducted by an external rating firm called “Planet Rating” to review on VisionFund Cambodia’s achievement of its social goals. We were rated “4-, while the top is “5+”. That meant VisionFund Cambodia had clear and intentional commitment to achieve social goals with its sound social performance management balanced with social responsibly risks. In other words, we’re moving forward to achieve a positive social impact.
As a social oriented MFI mainly focusing on women and children, VisionFund Cambodia has committed to contribute a portion of its financial profits annually for social contribution through many different programs such as Children Scholarship Program, Safety Net Program (Loan pay-off upon client’s death along with donation for funeral expenses) and recently on 20th August 2012, VisionFund has just donated $1,000 in cash to Kantha Bopha Hospital to support medical fee and treatment for children who were affected by serious diseases like EV71, and others.
As of July 2012, VisionFund has been operating in 115 districts of 20 provinces with loan portfolio of more than $42 million and 145,000 clients which bring positive impact to over 500,000 children living in community.
Khuon Sophorth, Head of Systems and Communications