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

  • Government set to slash holidays

    The private sector has welcomed the government’s move to reduce the number of public holidays in the in the Kingdom – known for having the most public holidays in the world – by seven days. However, the government had just added the “Day of Remembrance” on

  • Kith Theang being held in PJ prison

    Kith Theang, the brother of prominent businessman Kith Meng, was charged by Phnom Penh Municipal Court late on Monday and sent to the capital’s Police Judiciare (PJ) prison over the nearly 50kg of drugs found in a February 23 raid by authorities on the Rock

  • ‘Kingdom lacks up to 400MW in available electricity’

    Prime Minister Hun Sen has called on the general public, hoteliers and businesspeople with generators to use them as back-up as the Electricity Authority of Cambodia cannot generate enough electricity to meet needs due to low water levels in power station reservoirs. On Saturday evening

  • Sor Chandeth defends his criticism of Hun Sen

    Former senator Sor Chandeth has defended his choice of words when criticising Hun Sen, saying he was merely speaking metaphorically to attack the Prime Minister’s political life, not his actual person, as the latter seeks damages. [img] Chandeth spoke to The Post on Thursday,