Project Update: SE Asia Foundation supports the Rice Loan Project
The Rice Loan Project has just concluded its trial, thanks to the support of the SE Asia Foundation. This initiative is designed to support the most vulnerable families in our community, providing them with small investment loans to help them ease their financial stress and enable them to harvest their rice.
Through this project, we were able to provide financial support to 25 families, which will allow them to grow their rice and provide a source of income for their households. The project also had the added benefit of enhancing community contribution by providing rice to support our sewing students' stipend. This project has been instrumental in providing stability and security to these families, and we are grateful to the SE Asia Foundation for their support in making it possible.
The impact of this project has been significant, and we are proud to report that the outcomes have been overwhelmingly positive. Thanks to the Rice Loan Project:
25 families were able to harvest rice in 2022 due to the loan.
25 families had improved financial literacy through budget management.
Food insecurity was alleviated in 25 families due to harvesting rice.
100% of participants reduced their household debt.
One example of the positive impact of this project is Vuon, a 45-year-old farmer and grocery seller from a rural village in Siem Reap. After COVID-19 hit, her business suffered, leaving her family in debt and making it impossible for her to obtain money for her rice growing.
Thanks to the Rice Loan Project, Vuon was able to receive a loan of $200 after completing our hands-on training course on rice cultivation and financial management. Over the following four months, we worked closely with her to ensure that her rice cultivation was going smoothly.
In April, she was able to harvest her rice with a noticeably increased yield, receiving four tons and 700 kg this year, an increase of 500 kg from the prior year. This successful harvest has brought stability and security to Vuon's family, allowing her to provide for her children's education and pay back her debt.
The Rice Loan Project has made a significant impact on the lives of many families in Southeast Asia, and we are grateful to the SE Asia Foundation for their support in making it possible. The success of this project is a testament to the power of community-led initiatives and the positive impact they can have on the lives of the most vulnerable members of our society.
