BORVOR

Brought to you by CARE International

About Borvor

Cambodia Map

Borvor Finance PLC was previously called the Cambodian Community Savings Federation (CCSF) and started as the Small Economic Activity Development project of CARE Cambodia, financially supported by AusAid through CARE Australia in1998. It transformed into CCSF in 2003 and Borvor in 2017. It works in the provinces of Battambang and Banteay Meanchey in northwest Cambodia.

Borvor Finance is registered with the Ministry of Commerce and has a license to operate as a rural credit operator from the National Bank of Cambodia.

 

What is Borvor’s mission?

Its mission is to ‘provide affordable financial services to low-income families, especially women, responsive to their needs and improve their standard of living’. Approximately 66% of its borrowers are women and some 93% live in rural areas. The vast majority of its clients are smallholder farmers growing rice.

 

What types of financial services does Borvor provide?

It provides loans directly to individuals to invest in their businesses. The loans are used primarily to purchase assets but are also used as working capital by clients. At present it has just over four thousand active clients.

 

How much interest does Borvor charge?

Microfinance institutions (MFIs) charge higher rates of interest for several reasons. Firstly, the administrative costs of making many small loans are much higher than making fewer larger loans; secondly, they take more time assessing the feasibility of applications and thereby reducing risk because borrowers cannot offer traditional forms of collateral nor do they have salaried incomes; thirdly MFIs often operate in geographically remote areas with low population densities and this means that they incur greater operational costs; and fourthly they often accompany loans with a range of training and technical advice. In addition, inflation is generally higher than in countries such as the UK. The rate of inflation in Cambodia can be found below. Borovor Finance charges clients an annual interest rate of 18% on a declining balance. 

 

Does Borovor provide any training?

No, Borvor Finance does not provide clients with any training.

 

Where can I find out more information about Borovor?

Further information about CCSF can be found at the organisation’s website at http://www.borvor.com.kh/english/index.php or on Mix Market.

 

Borvor Finance: Basic facts and figures

Full name:   Borvor Finance PLC
Established:   2017 (started as CCSF in 2003)
Average loan size   US$2,828
Number of active loans
  3,433
Outstanding loans portfolio
  US$7,768,379
Portfolio at risk (PAR) at 30 days
  2.40%
Proportion of loans given to women:   68%
Proportion of loans given in rural areas
   87%
     

This information was updated in June 2018

 

Cambodia: Basic facts and figures

Country:   Kingdom of Cambodia
Capital:   Phnom Penh
Official language:   Khmer
Population:   15.95 million
GDP per capita (current US$):   1,094.6
Inflation:   2.85%
Human Development Index ranking:   143 (of 188 countries)
Proportion of population living on less than $2 per day:   57.8%
Adult literacy rate:   77.2%
Under 5 Infant mortality rate (per 1000):   29
Life expectancy:   64.14 years
Currency:   Cambodian Riel and US dollar
Proportion of adults with a bank account:   22%
Gap between men & women account ownership (% points):   statistically insignificant
Gap between richer & poorer account ownership (% points):   12

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