Logo of Phnom Penh Post newspaper Phnom Penh Post - USAID to finance agriculture projects

USAID to finance agriculture projects

USAID to finance agriculture projects

USAID’s Development Credit Authority (DCA) announced that it will make as much as $15 million in financing available to support agricultural development in four Cambodian provinces through partnerships with multiple financial institutions.

To complement its Feed the Future Initiative and promote domestic horticulture, DCA has partnered with AMK Microfinance Institution Plc, LOLC (Cambodia) Plc and RMA Financial Services (Cambodia) Plc to handle and disperse loans for agribusinesses in Siem Reap, Kampong Thom, Battambang and Pursat provinces, according to a press release yesterday.

“We are proud to encourage private sector lending in Cambodia’s agriculture sector upon which 70 percent of the population depends,” said USAID Cambodia Mission Director Polly Dunford. “We are confident that increasing access to credit in the agriculture sector will support Cambodia’s tremendous economic growth and will have positive impact on all Cambodians – whether in rural and urban areas.”

This financing coincides with the USAID Feed the Future Cambodia Harvest II project which was announced last month. The five-year initiative aims to facilitate commercial partnerships between smallholder farmers and buyers. The project aims to see $37 million in sales and $12 million in investment by the time it is finished.

MOST VIEWED

  • EU parliament’s 13-point vote to decide on possible sanctions

    The European Parliament is due to vote on Thursday on a 13-point resolution on Cambodia – which includes a call for the treason charges against bailed opposition leader Kem Sokha to be dropped – a threat that could see the EU enforce a range of sanctions against

  • Government hits back at threats to pull EBA, suspend UN seat

    The spokesman for the ruling Cambodian People’s Party (CPP) has said the government is in no way concerned after the European Parliament gave it three months to reverse what it called the “systematic repression of the political opposition”. Ignoring the ultimatum could mean facing

  • Sar Kheng: Sokha requested security

    Interior Minister Sar Kheng on Sunday revealed the story behind the transfer of former opposition party leader Kem Sokha from Trapaing Phlong prison in Tbong Khmum province to his house in the capital. Speaking at the ruling Cambodian People’s Party (CPP) headquarters in Prey

  • PM vows to ‘protect’ Chinese interests

    Prime Minister Hun Sen on Tuesday told Chinese companies investing in Cambodia not to worry about contract cancellation in the Kingdom. Speaking at a roundtable meeting with business executives in China as co-chair of the China-Asean Expo, the prime minister told six Chinese conglomerates with