Fundraising Status:closed
Risk Rating:
What to know about this Lending Partner
Impact Category:
General Financial Inclusion
Default Rate:
0.29%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$14,247,175
Loans at Risk Rate:
0%
Kiva Borrowers:
18,750
Delinquency Rate:
0%
Interests and Fees:
27% PY
Status update - August 1, 2018
Kiva and VisionFund Cambodia have agreed to end their partnership after nearly 7 years and more than 14 million dollars in loans raised. VisionFund Cambodia has been acquired by Woori Bank and is no longer in need of Kiva funding, and has now repaid all funds owed to Kiva lenders. We thank VisionFund Cambodia for the years of collaboration and wish them success in their future endeavors.
Partner Description:
VisionFund Cambodia is a Christian organization and microfinance institution that provides small loans and other financial services to improve the lives of children, empower poor women and their families, and grow successful businesses. The organization targets the poorest families regardless of religious beliefs, gender or ethnic background.
Starting out as a small credit program run by World Vision Cambodia in the 1990s, its microfinance operations evolved into a separate institution affiliated with VisionFund International in 2003. To date, VisionFund Cambodia has served over 140,000 clients with a total loan portfolio over US$37M.
A unique lending approach
The microfinance institution has created several socially-driven loan products, including education loans, loans to families whose children are at risk of becoming child laborers (in partnership with the International Labor Organization), and loans for rice mill cooperatives, among others.
Some of these loans have special, more flexible terms to better meet clients’ needs while promoting education, health awareness and local rice production. In addition, the organization has been providing clients with financial education training, life insurance on loans with contributions for client funerals, and awards for reliable clients such as scholarships for their children to complete high school.
VisionFund Cambodia's client who took a loan to sell a rice in the local market.
Partnerships and awards
VisionFund Cambodia started working with PATH (Program for Appropriate Technology in Health) and Hydrologic Social Enterprise in 2010. These partnerships help it promote clean water and sanitation in rural communities, and provide financing to poor families across several provinces to purchase water filters. A similar partnership with International Solar Solutions enables poor clients in the remote, off-the-grid province of Preah Vihear to purchase solar energy products.
Since its inception, VisionFund Cambodia has received a number of honors from global organizations, including the Consultative Group to Assist the Poor (CGAP) and the United National Development Program. These awards acknowledge its financial, operational, institutional and social transparency. In 2010, VisionFund Cambodia was recognized with a Gold Award by the Microfinance Information Exchange (MIX) for its integrity and transparency in reporting, measuring and collecting data related to social performance.
Image courtesy of VisionFund Cambodia.