Students are being given a helping hand to continue their studies after university information portal Sala Tech and AMK Microfinance Plc pledged to provide student loans as part of a move that will help Cambodia’s future development.

On February 10, the two parties signed a Memorandum of Understanding (MoU) to provide student loans to students in the provinces and Phnom Penh to continue their studies in higher education while easing the financial burden for parents.

Suon Pisey, AMK’s Chief Business Officer (left) sign the MoU with Leap Sok, CEO and Founder of Sala Tech. Picture: supplied

“Financial problems are the main obstacle to getting the university education of their dreams, with some students being forced to suspend their studies to help ease the burden on parents,” Suon Pisey, AMK’s Chief Business Officer, said.

“These are motivating factors for AMK to partner strategically with Sala Tech to provide student loans without collateral and with appropriate interest rates to the next generation of students. This is one of the many activities that AMK is actively involved in, providing poor people with access to life-enhancing opportunities through financial services such as business loans, agricultural machinery loans, personal loans, and online loans, that are easy to request, with terms and flexible payment."

Leap Sok, CEO and Founder of Sala Tech – Cambodia’s first student lifestyle app, said student loans are the dream sought by students and parents, especially during the Covid -19 pandemic.

“Continuing studies in higher education is a dream for many students and parents as Covid-19 has affected businesses and continues to have a negative impact on the lives of many Cambodians,” Leap Sok said.

“Without financial assistance during this difficult time, students may have to wait or delay their studies. So, Sala would like to extend our support to students beyond providing counseling and enrollment programs at higher education.”

“Under this new partnership between Sala Tech and AMK, we will bring a way that will provide access to financial services to support our students.”

Sala Tech and AMK Microfinance Plc at the MoU signing ceremony. Picture: supplied

About AMK

AMK is a leading microfinance institution in terms of operations and number of clients. It has 151 operating offices and more than 7,000 agents nationwide.

AMK offers a wide range of products and services, including loans, savings, remittances, billing, micro-insurance, payroll, and automatic cash withdrawal and deposit machines (ATMs /CDMs). In particular, AMK Mobile operates mobile banking, which allows customers to open their own accounts (Selfie Banking) to pay for water, electricity, garbage bills, top-up phone cards and pay bills through KHQR scans. AMK also offers money transfers between various local banks through Bakong payment system and many other services.

About Sala

Sala is an educational technology company based in Cambodia with a vision to enhance the student journey. To achieve this vision, it has been developing a comprehensive ed-tech platform that connects students with all stakeholders in the education sector, especially higher education institutions. Through this, they can gain more value from the educational experience and focus more on their studies.

Sala has also partnered with many universities and institutes of higher education to assist students in completing their online enrollment at www.sala.co

For more information on enrolling, please click www.sala.co

For more information on study loans, please click https://www.sala.co/kh/loan