The Japan Fund for Poverty Reduction (JFPR), a fund that was established by the Japanese government and is administered by the Asian Development Bank (ADB), recently extended a USD 1.9 million grant to help entrepreneurs in Kampong Thom, Cambodia, develop micro- and small businesses. ADB recently funded a road improvement project, to begin this year, which is expected to increase the number of visitors to the area. The objective of the grant from JFPR is to help the residents of Kampong Thom develop their businesses so that they can benefit from the influx of tourists that is expected to materialize once the road project has been completed. Issues such as physical isolation, inefficient production methods, understanding of the market and access to affordable credit will also be addressed. According to Steven Schipani, a social sector specialist at ADB, “Complementary investments in training, infrastructure, business services and community organization will enable local entrepreneurs to establish community based enterprises and enter lucrative value chains that are linked to Cambodia’s multi-million dollar craft industry.”
By Julie Moksim, Research Associate
About Asian Development Bank (ADB): Established in 1966 and headquartered in Manila, Philippines, the Asian Development Bank (ADB) is a development finance institution that consists of sixty-seven members, of which forty-eight are located in the region. ADB has three strategic priorities: to foster inclusive growth, to facilitate regional integration and to ensure environmentally sustainable growth. To accomplish these objectives, ADB uses loans, technical assistance, grants and direct assistance in the form of equity investments, guarantees and credit extended to private companies in member countries. ADB reported a total capitalization of USD 56 billion as of December 31, 2009.
About the Japan Fund for Poverty Reduction: The Japan Fund for Poverty Reduction (JFPR) was established by the Japanese government and the Asian Development Bank (ADB) in May 2000. The Fund has total assets of USD 445 million as of 2010. JFPR’s goal is to help poor people including by assisting in increasing their incomes.
Sources and Additional Resources:
Asian Development Bank (ADB) Press Release: “Cambodia’s Rural Poor to Get Livelihood Support Linked to Road Upgrade”, February 21, 2011, http://www.adb.org/Media/Articles/2011/13479-cambodia-rural-livelihoods/
MicroCapital.org Brief, February 3, 2011: Asian Development Bank, Government of Japan Invest $2m for Bangladeshi Remittance Service, Financial Literacy Training, https://www.microcapital.org/microcapital-brief-asian-development-bank-government-of-japan-invest-2m-for-bangladeshi-remittance-service-financial-literacy-training/
MicroCapital.org Brief, January 9, 2011: Japan, Asian Development Bank (ADB) Aim to Help Mongolia Strengthen Financial Regulations, Improve Financial Education to Poor Through Television Drama, https://www.microcapital.org/microcapital-brief-japan-asian-development-bank-adb-aims-to-help-mongolia-strengthen-financial-regulations-improve-financial-education-for-poor-through-television-drama/
MicroCapital’s Microfinance Universe Profile: Asian Development Bank (ADB)
MicroCapital’s Microfinance Universe Profile: Japan Fund for Poverty Reduction
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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