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THANEAKEA PHUM (CAMBODIA) LTD. OBTAINS THE PROGRESS OUT OF POVERTY INDEX CERTIFICATION FOR BASIC AND ADVANCED STANDARDS
Phnom Penh, August 12, 2013 - Thaneakea Phum (Cambodia), Ltd. (TPC) is pleased to announce that it received in August 2013 the Progress Out of Poverty Index® (PPI®) Certification for Basic and Advanced Standards from Grameen Foundation. The PPI is an integral part of how TPC is assessing whether it is meeting its social goals; as well as improving its overall performance by integrating social performance management (SPM) initiatives into its core business.
 
TPC Credit Officers conduct the PPI questionnaire as part of the assessment process
PPI is a country-specific tool used to objectively measure household poverty levels. The index is constructed from the answers to 10 easy-to-answer context-specific questions regarding house characteristics and asset ownership of clients. It is used to establish the likelihood that clients are living below the poverty line, or above by a narrow margin. The PPI is simple and objective, allowing microfinance institutions to collect valuable data without much disruption to their operations. The PPI is available for 48 countries and is increasingly recognized as an indispensible tool to ensure effective poverty reduction efforts.
Aiming to improve the social impact of its services, TPC started PPI implementation in 2011; and improved it in 2012 with technical assistance from Oikocredit. Focused on appropriate and effective reporting, assistance from Oikocredit was essential in verifying that TPC had high quality standards for PPI data processing and analysis. Thanks to Oikocredit’s help, as well as the commitment of TPC staff, TPC is the only Cambodian microfinance institution so far to have received the certification on Basic and Advanced Standards from Grameen Foundation. With the implementation of PPI, TPC has become a pioneer in objectively monitoring the positive impact of its services on the lives of its clients.
Implementation of the PPI helps TPC fulfill its mission of providing entrepreneurs and families at the base of the socio-economic pyramid with sustainable and effective financial services. First, the index helps TPC better understand its client base and ensure that it continues to serve those at the base of the socio-economic pyramid. Moreover, tracking client economic wellbeing overtime helps TPC ensure that it provides financial services which are measurably effective in improving the economic wellbeing of its clients.
TPC conducts the PPI measurement for all new clients. This year up to July 2013, about 48,500 new clients had been evaluated; of whom, 41.05% live with less than one dollar a day (2005 PPP). With this data in hand, TPC is able to adapt its operations, products and services to better meet the needs of target clients.
As part of its broader Social Performance Management, TPC will continue to strengthen PPI implementation and use the data gathered to track the progress of client’s poverty level for client’s benefits.
About TPC
Thaneakea Phum (Cambodia), Ltd. (“TPC”) is a rapidly growing, regulated microfinance institution with a focus on serving low-income women in rural Cambodia. TPC was established in 1994 and is currently the 5th largest MFI in Cambodia by number of borrowers. Primarily a group lender, TPC reaches the lower end of the poverty spectrum while maintaining strong operating performance. As of July 2013, TPC serves 141,299 clients via its network of 44 branch offices in 18 provinces, and since the beginning of 2013 TPC has grown its gross loan portfolio by 31.8% to US$63.8 million. This growth has been responsibly managed to ensure a top-quality portfolio, and PAR >30 days is currently at 0.19%. www.tpc.com.kh
About Grameen Foundation
Headquartered in Washington, D.C., Grameen Foundation was founded in 1997 by those close to Grameen Bank with the mission of enabling the poor through financial services to create a world without poverty. Grameen Foundation focuses on creating sector-wide solutions that can help transform the lives of millions. It helps microfinance institutions better understand their customers and improve their services and operations to create measurable and lasting impact on the economic wellbeing of their clients. The PPI is part of their effort to better serve microfinance clients worldwide by objectively measuring the economic wellbeing of clients. www.grameenfoundation.org
www.progressoutofpoverty.org
About Oikocredit
Oikocredit is an international cooperative and one of the world’s largest sources of private funding to the microfinance sector, providing credit and equity to small businesses through microfinance institutions across the developing world and directly to trade cooperatives, fair trade organizations and small to medium enterprises. Oikocredit’s mission is to empower disadvantaged people with credit. Currently, Oikocredit is active in almost 70 countries, has 859 partners with an outstanding portfolio of Euro 533 million. More than 28 million people are reached by Oikocredit’s partners.
www.oikocredit.coop
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