Guardian.co.uk
Liz Ford: Nobody is too poor to save, insists Care International, which supports community microfinance initiatives that offer safe and efficient ways to put money aside
Sarom Eng, 55, has five children. She perches on a wooden slatted bench in her village, Preytotung, in Battambang province, as she speaks about her business ventures. Family members, including her daughter and one of her five grandchildren, neighbours and animals mill around the garden that surrounds her small stilted wooden house as we talk. Lined up opposite the bench are huge plastic bags full of kapok fibres, which have been plucked from pods that hang from nearby ceiba trees, and are ready for sale.
Eng has developed a good seasonal business, buying the pods from farmers who have the trees on their land, and selling the kapok to companies that make mattresses and pillows. It has been funded through loans she’s taken out from the Khum Chrey community-based microfinance organisation (CBMIFO). She’s on her third or fourth loan now – the most recent for 1.5m Cambodian riel, about $370. She employs neighbours and family to help pluck and bag the kapok, and she expects to get a 50% rate of return when she sells her goods. “I’ve never had a problem with paying the money back. I usually pay back before I need to.”
The income generated, along with money earned from selling fruit up along the Thai border and from growing rice in a field about 4km from her home, means she can support her children and grandchildren, and save money.
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