Success Story (Cambodia): Toek Thla Samaki saving group
The Toek Thla Samaki saving group Toek Thla Village, Trapaing Krosaing Commune, Prey Kabas District Takeo Province was established in 2008 with 16 members and a saving capital of $40. With the support of AFOSP-MTCP2 through the Farmer and Nature Net in Cambodia starting 2014, the group conducted training and support from FNN staff and was able to increase its saving capital to $125,000 and its membership to 312 members. The provincial department of agriculture in Takeo got interested and invited the committee to give training and the group also got registered as a cooperative. Today, it has 661 members, 397 of which are women, and a saving capital of $300,000. Members get 1.7% interest on savings every month, loans are provided at 1.9 to 3% interest per month, and depositors get an interest of 12% per year.
“With the profit, the group contributes $15,000 to the institutional fund, $2,000 to the social fund, and $40 to $80 to the service committees. It also now closes its balance using a computer system.” — Chhong Sophal, Program Coordinator, FNN.