Chamroeun Foundation Association (CFA) was created by Chamroeun Microfinance Limited in October 2011. Part of Chamroeun’s net profit is dedicated to fund the activities of this association.
The purpose of this initiative is to take part in poverty reduction in Cambodia through involvement in socio-economic, educational, and environmental development. This foundation is a neutral association with no discrimination on the basis of race or religion, and it was not established for the purpose of serving any political party. As such, the association does not provide an instrument, funding, or human resources to support any political party or political candidate. CFA serves only the public’s interests. Chamroeun is the main funder of this program and within this report acknowledges Chamroeun’s staff for their kind generosity in providing monthly and yearly contributions to support this initiative.
CFA strongly believes that its three main activities will bring benefits to Chamroeun’s partners and their communities as a whole:
- Provide scholarships to vulnerable poor students to enable them to free themselves from the poverty cycle through the access to education and appropriate skill, so that they can earn their living in the future
- Provide funding supportto aligned programsof local and international NGOs
- Initiate development programs to be part of disaster recovery interventions, such as floods.
2013 was the first year that CFA launched the scholarship program. Our partners who have children studying at primary school, secondary school and university had the chance to apply for a scholarship award. 598 applicants applied for this scholarship. Following the selection process and the eligibility requirements, 85 applicants (mainly from primary schools) won the scholarship awards. The scholarship included one bicycle and a package of study materials. Due to the previous success of this program, the program made rapid and continued growing in 2014 – there were 1137 applicants and 200 applicants who won the scholarship awards from CFA.
For this academic year 2015-2016 we have received 586 applicants from all the branches cross 16 cities/provinces of Chamroeun Microfinance Institution. There were 96 applicants have been selected to get this scholarship, and among them there were 56 old school scholars and 40 new school scholars.The package of scholarship including school materials for a whole school year, bicycle as transpiration
CFA still firmly believe that management and staff of Chamroeun will continue to push the spirit of generosity in helping poor partners’ families across the country to get better for the forwarded year. And CFA also commit to fulfill sustainable responsibility and accomplish its action plan and future direction for efficiency and effectiveness.