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

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,