Fundraising Status:closed
Risk Rating:
What to know about this Lending Partner
Impact Category:
Artisan
Default Rate:
0%
Currency Exchange Loss Rate:
0%
Total Loans Raised:
$53,125
Loans at Risk Rate:
0%
Kiva Borrowers:
122
Delinquency Rate:
0%
Interests and Fees:
N/A
Status update — August 1, 2017
Kiva and Soieries du Mekong have agreed to end their partnership after 32 months and $53,125 raised. While Kiva's model wasn't the best fit for Soieries du Mekong, the company continues to work with rural Cambodians by teaching young men and women the art of scarf weaving and enabling them to sell their products in Europe and South-East Asia. This Lending Partner has repaid its outstanding balance to Kiva in full, and these funds have been distributed to lenders. We thank Soieries du Mekong for their collaboration and wish them success in their future endeavors.
Partner description:
Soieries du Mékong is committed to promoting and reviving the art of silk scarf making. Cambodian traditional crafts - such as silk weaving - were put aside under the Khmer Rouge regime and the subsequent wars.
Soieries du Mékong combats rural exodus in Cambodia by teaching young Cambodian men and women the art of scarf weaving and enabling them to sell their products in Europe and South-East Asia. The fashionable silk scarves are designed in France and then produced in Cambodia by low-income rural weavers.
A unique lending approach:
Soieries du Mekong loans allow silk weavers to purchase the material needed for making scarves and stoles for one production cycle. During a production cycle weavers can produce between 50 and 65 silk, wool and/or cashmere scarves.
Soieries du Mekong also provides numerous non-financial services to its weavers in order to empower them to increase their living standards. These services include free language and math classes as well as financial literacy programs. In addition, Soieries du Mékong covers 80% of the weavers' medical expenses.