Cambodia’s Agriculture and Rural Development Bank (ARDB) said that it has received more than 288 loan applications so far with a total value of 31 million USD from small and medium sized enterprises (SMEs), according to Khmer Times.
In March this year, the Cambodian government allocated 50 million USD special fund for SMEs. The fund is designed to specifically focus on agri-processing, food processing, agri-business, crops including vegetables, livestock and the aquatic business plus any enterprise that uses raw materials from agriculture.
The bank said the government has recently reduced the interest rate from 6 to 5 percent for working capital and 6.5 percent to 5.5 percent for investment capital, as well as increase the repayment period for up to seven years. SMEs can borrow up to 300,000 USD.
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