Wing Bank has signed off on a $1 million loan to CAMMA MFI for the WASH Project.
In an inspiring collaboration, Wing Bank (Cambodia) Plc and CAMMA Microfinance Limited have come together to make a significant impact on the wellbeing of underprivileged communities in Cambodia, with a memorandum of understanding (MoU) signed on February 16, 2024.
With a financing agreement of US$1 million, Wing Bank is supporting CAMMA MFI's WASH Loan project, which is dedicated to providing safe water and sanitation facilities, and contributing to the government's efforts to enhance community wellbeing.
Through the WASH Loans project, the financing from Wing Bank will be used to assist communities in constructing or repairing toilets, reservoirs, clean water connections and wells.
It will also enable the purchase of water purifiers, storage tanks and household water pumps, empowering individuals and families with vital water and sanitation resources.
“We aim to enhance financial inclusivity and make a meaningful impact on the lives of individuals and families by ensuring access to safe water and sanitation facilities,” said Neak Oknha Kith Meng, CEO of the Royal Group of Companies and Chairman of the Board of Directors of Wing Bank.
“We firmly believe that by investing in the betterment of communities, we contribute to a brighter and more prosperous future for Cambodia.”
H.E. Dith Nita, Chairwoman of CAMMA MFI, said: “The WASH Loan product implementation aligns with CAMMA MFI’s vision in enabling accessibility to this type of loan in underprivileged communities.
“And the agreement signing today allows us to fund the provision of WASH Loans to those in need of safe water and sanitation facilities, and to improve the wellbeing of their families.”
The partnership between Wing Bank and CAMMA MFI exemplifies the power of collaboration and the potential for financial institutions to drive positive change in communities.
With their shared commitment to improving access to safe water and sanitation, they are paving the way for a brighter future for the people of Cambodia.
Wing Bank, known as one of Cambodia's fastest-growing digital banks, is dedicated to financial inclusion and empowerment.
Through collaborations with development partners and government agencies, Wing Bank has made significant contributions to agricultural development financing projects and other initiatives, fostering positive change and country-wide development.
The MoU was signed during a staff capacity development workshop in Phnom Penh on "WASH Loan Selling and Effective Negotiation Techniques", presided over by CAMMA MFI's Chairwoman of the Board and Acting CEO.
It was attended by 113 staff members and conducted by professional trainers, sponsored by Water.org in collaboration with the Cambodia Microfinance Association.
