We are happy to report two out of three farmers who received loans in January 2019 have repaid their loans in full and on time (January 2021). We continue to support the third farmer as he and his family continue to grow their farm.
In February 2020 we provided four farmers with $500 USD loans, with a 2-year repayment plan. Farmers had the option of paying 50% of their loans after 1 year, or pay the full amount at the end of the 2-year term (February 2022). Mr. Khuon and his wife Rumy (see July 6, 2020 update) have chosen a 2-payment plan, and on March 5, 2021 they repaid $250 USD or 50% of their loan.
Although the pandemic has had minimal impacts on Snoul in the past year, the current rise in COVID cases in the region has led to strict travel restrictions. The community is beginning to experience the negative financial impact of the pandemic.