I. Our current activity in Cambodia
Currently, API is assisting a Microfinance institution* called Asia Pacific Finance Plc. (APF). APF was founded by the Japanese and obtained a business license from the National Bank of Cambodia 2015. Therefore APF has been operating microfinance business since 2015. APF’s performance are as stated below.
- Maximum Interest rate : 1.5%/month (18%/annum)
- Lending range : USD 5,000 — USD 15,000
- Collateral : Appraisal real estate (lend up to 50% of value)
- Credit losses** : 0% since founding
APF is also focusing on social contribution activities supporting orphans continuously and clean up activity in Phnom Penh, Capital of Cambodia.
*Microfinance is the extension of small loans to the very poor, in combination with other financial services, such as savings facilities, training, health services, networking, and peer support. This allows them to pursue entrepreneurial projects that generate extra income, thus helping them to better provide for themselves and their families. (Source: Microcredit Summit Campaign “What is Microfinance”)
**Over 30 days after repayment due date
II. Clean-up Activity
APF does clean-up activity in Phnom Penh as another social contribution activity. This includes promotion of the Company; there are a lot of rubbish you can see on the roadsides and public areas in Phnom Penh. Majority of the residents do not worry of the implications of neglected waste so they end up littering. Against this situation, APF recruits volunteers for cleaning initiatives during holidays. There are at least 20–30 attendees for each time as our employee families come to this activity.
For now, Orphanage children also attend this activity so this activity turns bigger and bigger. We realize that this activity influences people’s moral development and has a ripple effect because many people walking around us did help us while we were cleaning up. And this activity also lead to improve employee’s moral and their sense of responsibility. As the result of these activities, APF was admitted to enter into the Foundation for the Support of The United Nations (FSUN) 2017. FSUN is the Association for supporting the United Nation activity and APF is capable to support UN’s activities as a member of FSUN. APF will contribute to society through these activities with FSUN’s goal “Give happiness and peace to people all over the world”.