The pumps represent a huge financial commitment for these farmers. They have very little cash and are understandably risk averse: If a poor person buys a pump and it fails to make her or him money, the family might go hungry for months. Taking these factors into account, and until the pumps gains wider acceptance, BB2C is providing micro-loans to the farmers. Farmers interested in obtaining a pump will be screened, and those chosen to participate in the program will obtain small loans through us which will enable them to purchase these pumps. We are charging an extremely low interest rate – 6%, to be paid back in one year.
This pump’s irrigation method will allow farmers to increase their harvests and realize higher profits – and pay back the loans from a portion of these profits.
Our intent is to give the loans to women, because there is extensive documentation that not only do women reliably pay back the loans, but making a woman central to the process improves conditions for her, her family, and her community.
Since BB2C is bringing these pumps to Cambodia for the first time, the farmers absorption in the process is understandable. The pumps represent a significant improvement over similar mechanisms currently available in Cambodia.
Having the participants buy the pumps, instead of giving them away, strengthens their self-respect and commitment to make a better future for themselves. Our goal is to help people create small enterprises.
We are currently demonstrating two models of pumps that we buy from KickStart International, a not-for-profit organization based in Kenya, but we are providing loans only for the MoneyMaker Hip Pump. This will allow us to reach many more farmers with the funds we have available. The pumps have been thoroughly field-tested. Tens of thousands are in use in Africa. They are very easy to use, durable, and compatible with both existing water sources and a variety of crops grown in Cambodia. The pumps support the needs of small farmers with 1-2 acres of land.
The participants, after testing the two different pumps, will chose either the Super Money Maker or the MoneyMaker Hip Pump. The cost of the Super MoneyMaker Pump is $140, and $45 for the MoneyMaker Hip Pump.