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Build Brighter Futures “I am so proud that I can support my children,” says Chuob Chhieng Eng, a 47-year-old widow in Cambodia. Chuob is one of the 90,000 Cambodians changing their lives through small loans from Catholic Relief Services’ local partner Thaneakea Phum — which in Khmer means “village bank.” Using an initial loan to buy startup materials, Chuob now bakes and sells about 500 steamed dumplings, also known as “Chinese cakes,” each day. The profits allow her to pay school fees for her six sons. By making sure her children get an education, Chuob is helping to ensure their future success. Thaneakea Phum was launched in 1995 with support from the U.S. Agency for International Development and the McKnight Foundation as a microfinance project to serve 350 people. This microfinance institution has since extended more than $112 million in loans to more than 710,000 people during the past 15 years. Lower interest rates make it possible for clients to take out small loans so they can expand farming activities or start businesses such as bakeries or bicycle repair shops. In February 2010, CRS sold this successful venture to Developing World Markets, a socially responsible investment fund that will help even more Cambodians escape poverty through microfinancing.
You help poor artisans reach a global market. Sponsored by the CRS Fair Trade Fund, the Ohio Fair Trade Expo at John Carroll University features artisans from around the world. Photo by Wetzler Studios for CRS