Ngorn would like to improve his living standard by having clean energy for household use. Because of the lack of capital, he is asking for a loan in the sum of 500 USD to build a biogas digester, under the project of NBP (National Biogas Program) in partnering with HKL. After an initial investment in this system, he hopes that he won’t spend much money on fuel, and lessen the smoke from wood or charcoal. Upon construction completion, NBP provides a flat rate subsidy of 150 USD per plant into the borrower’s saving account for the purpose of making loan repayment. After that, HKL will provide a new repayment schedule to the borrower. Accordingly, there is the possibility of a small variation in loan amount when reporting monthly repayments to Kiva.
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This loan is part of HKL's new green loan program designed to help improve living standards of poor and low-income people living in rural areas of Cambodia by giving them access to clean energy. Solar loans under this program allow poor families living off the grid to invest in solar home systems that can power lights, fans, radios, and mobile phones. HKL also disburses loans for biogas digester plants which allow farmers to convert animal and human waste into biogas that can be used to power clean cookstoves and organic fertilizer for their farms. These loans have numerous economic, health, environmental, and social benefits for families which include saving money and time collecting fuelwood, reducing smoke-borne diseases, and allowing family members to do schoolwork and housework in the evening. HKL has designed these social loan products to feature a lower interest rate than typical Kiva loans.
About HKLHattha Kaksekar Limited is one of the largest and most successful microfinance institutions (MFIs) in Cambodia. The organization provides microfinance services to the poor, particularly women, in urban and rural areas. Kiva lenders’ funds will be used to expand the outreach of HKL’s financial services to a greater number of clients in rural areas of Cambodia.
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