Partners in Compassion (PC) has initiated and facilitated Village Savings and Loan project, establishing a total of 31 groups. 26 groups are in the 3 branches of Partners in Compassion: 1. Bati Operational District, 2. Ang Roka Operational District, 3. Kirivong Operational District and the remaining 5 groups are in Pursat.
Tropaing Chhouk Kdey Songkhem is the first group which is along the National Road 3 in Tropaing Chhouk Village, Sophy Commune, Bati District, Takeo, which has finished the 1st cycle which lasted for 1 year successfully. The group has a total of 23 members who are people living with HIV/AIDS (PLHIV), among which 10 are males and 13 are females and 2 are the community people. The group’s members voted to select a group leader, a book keeper, a box keeper, 2 money counters and 3 key holders to facilitate and lead the saving group. The cycle of the group has duration of 1 year from June 2012 to May 2013.The total savings was 3,410,000 Riels, total interest was 411,800 Riels and emergency fund was 8,800 Riels.
The total saving combined with the total interest was then distributed on the basis of the number of shares that the member had purchased, while the group’s emergency fund was not distributed and kept in the box to help other members in the future emergency situation. After the success of saving in the first cycle, the group smoothly continues another cycle in the next month.
“As a member of this savings and loan group, I am very pleased and interested in saving, because I could have a huge amount of savings and my saving is secure and I can borrow money at a low interest rate. It is convenient to borrow and I don’t have to travel a long distance to borrow from others. The group is also well-managed and the members are actively involved and closely cooperate. In the future I hope that I will have more savings from this saving and loan group.”, according to Pin Pach, a VSL member residing in Tropaing Chhouk Village, Sophy Commune, Bati District.