JC Finance Plc and the Cambodia Agricultural Cooperative Alliance (CACA) on February 16 signed a memorandum of understanding (MoU) on increasing the provision of financial services to agricultural communities and business partners.

JC Finance CEO Tomari Suguru and CACA chairman Okhna Hang Sokun presided over the event at the microfinance institution’s office in the capital, with JC Finance senior management in attendance.

“We signed the MoU with CACA because it has a lot of knowledge of the agriculture sector in Cambodia and much experience working with it.

“CACA has close relationships with agricultural communities, and as our mission is to support farmers as much as we can, collaborating with CACA means we can deliver our financial services to as many farmers across the country as possible,” said JC Finance CEO Tomari Suguru.

The MoU outlines JC Finance and CACA aiming to build the capacity of agricultural cooperatives in business management skills, ensuring they have access to financial markets, as well ensuring smallholder farmers receive the best price for their products.

The collaboration also sees both parties seeking to share knowledge and ideas, pool efforts and expertise, and organise a series of workshops.

Licensed as a microfinance institution by the National Bank of Cambodia (NBC) in February 2018, JC Finance’s main focus is the agricultural sector, supporting traditional farming as well as new business models that can increase incomes. PHOTOS BY HONG MENEA