Logo of Phnom Penh Post newspaper Phnom Penh Post - Finding funds for the rice crop

Finding funds for the rice crop

Finding funds for the rice crop

Farmers in Baray Lech village have used bank loans to buy stock and rice.

Agriculture is big business for ACLEDA Bank. According to Prey Veng Branch Manager Toch Bonboramy, about 40 percent of the money loaned by the bank goes to farmers. Rice is easily the biggest crop. Farmers in the province tend to grow two crops – one in the wet season and a second one in the dry season.

“Customers borrow money to grow rice, and last year was very good,” says Toch Bonboramy. “Some customers used to borrow micro-loans and now they take out small loans. This is the way the amount of loans increases.”

Chay Ya, 25, is one of ACLEDA’s clients. During the dry season she grows rice on a hectare of land in the village of Baray Lech. Last August, she took out a loan of 2.5 million riel (US$625).

“I borrowed the money to buy fertiliser and gasoline,” she says. “The rice is healthier this year than last year.”

Her husband, Nhep Saroth, 27, is unconcerned about meeting their repayments. The couple do casual work on construction sites and other people’s farms in order to pay back the loan. They have already paid back one million riel, and will pay back the outstanding amount once they have harvested the rice.

“Now we have borrowed the money, we can see how much easier it is than before, because we can buy fertiliser and gasoline,” says Nhep Saroth. “After the harvest, we will have the rice and so can pay back the bank.”

Nhep Saroth is considering taking out a further loan in order to buy some pigs. “If we can, we will buy 15 piglets,” he says. “And when they grow big we will sell them and pay off the bank.”



  • Angkor Wat named as the top landmark for the second year

    Travel website TripAdvisor has named Cambodia’s ancient wonder Angkor Wat as the top landmark in the world for the second year running in their Travelers’ Choice Award 2018, an achievement Cambodian tourism operators expect will attract more tourists to the Kingdom. The website uses traveller

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Hun Sen detractors ‘will die’

    Prime Minister Hun Sen on Wednesday said those who curse or insult him would eventually die without a plot of land to bury their bodies after being killed by lightning, suffering the same fate as those who recently died in Thmar Baing district in Koh

  • Ministry’s plan for net sparks fears

    The government has ordered all domestic and international internet traffic in the Kingdom to pass through a Data Management Centre (DMC) that has been newly created by the state-owned Telecom Cambodia, in a move some have claimed is an attempt to censor government critics. Spokesman