It’s Smiles All Round
Inspired by life as a child in a Khmer Rouge labour camp, Piseth has worked with The 2h Project to establish a Micro-finance Organisation called Smile of World. Smile of World provides interest-free loans to help establish desperately poor Cambodians in their own small business.
One of the keys to the success of micro-finance or ‘banking to the poor’ is the recycling of loan dollars. In 6 to 12 months, the loans are repaid and the money is ‘paid forward’ as another loan, multiplying the value of each dollar in reducing poverty. With close toa 100% pay back rate, the investment is having a significant impact. The cost to establish a local business in Cambodia is a lot less than Australia – just $300 is all that is needed!
And the results have been amazing. People who were earning less than a dollar a day scavenging for plastic bottles at the city dump are now running their own successful business and making plans to grow into the future. Parents can now afford to send their children to school, purchase basic medicines and have enough money to buy all the nutritious food they need for their families.
Smile of World have set themselves to break the cycle of poverty by providing training, business plans and financial assistance for local people to develop their own small business.But one of the most moving aspects of this project is that the people are voluntarily making extra contributions to Smile of World so that the goodwill can be paid forward to others just like them. These people have not only been helped by the partnership of The 2h Project and Smile of World; now they want to pass the smiles forward.
Donate today and make an investment that will be paid forward again and again.