Logo of Phnom Penh Post newspaper Phnom Penh Post - Rice request: Association aims for $15m credit

Rice request: Association aims for $15m credit

Rice request: Association aims for $15m credit

CAMBODIA’S Rice Millers Association has requested US$15 million in credit from the government to purchasing paddy for milling for 2011, its president Phou Puy said yesterday. The capital will allow the association’s 280 millers to purchase additional paddy, in turn producing up to 60,000 tonnes of processed rice for export, he said.

“We hope the government will approve our request so that the association will be able to collect more rice,” he said.

The capital would be extended to rice millers in the major rice producing provinces, aiming for individual loan sizes to millers of $300,000 to $500,000.

Last year, the association was granted $11 million from the government via state-owned Rural Development Bank.

Sun Kunthor, general director of the Rural Development Bank said the association’s request was now undergoing a review process by the Ministry of Economy and Finance.

“We will arrange the requested loan this month... if the review shows that the requested loan is appropriate and reliable,” he said. Kampong Cham Rice Miller Association president Sur Kheang said he welcomed more lending to millers. “We need more loans," he said.

MOST VIEWED

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American

  • Nearly 2,000 detained for Phnom Penh curfew breach

    Nearly 2,000 people were detained in the capital for violating the curfew imposed by the government and Phnom Penh Municipal Administration. Municipal police spokesman San Sokseyha told The Post on May 16 that people were detained in two phases. In phase one, the government locked down Phnom

  • Jab drive announced for two more Phnom Penh districts

    The Phnom Penh Municipal Administration on May 15 announced a first-dose novel-coronavirus vaccination campaign for Boeung Keng Kang and Sen Sok districts from May 18-31, and a follow-up second-shot drive from June 1-15. Twenty vaccination sites have been set up in a combined 13 communes across both