Government Soliciting Money to Fund $62M Project For Farmers

A government project aimed at helping farmers make better profits from small-scale agricultural businesses is looking to secure more than half of the $62 million cost through international funding, the Economy and Finance Ministry announced on Tuesday.

The first phase of the project, to be implemented by the ministry and the Rural Development Bank, will focus on five types of goods produced by 75,000 families in 15 provinces: potatoes, silk, chickens, paddy rice and vegetables.

The project, scheduled to run through 2022, intends to improve supply chains, help farmers get their products to market and provide local businesses with access to local produce, the ministry’s statement said.

Market connectivity has been a hot topic for the government and the development community alike, with a number of local NGOs working on schemes to get local produce to market, and high-level officials urging for Cambodian vegetables to be made available at tourist destinations.

Ministry officials are currently meeting with representatives of the International Fund for Agricultural Development in Rome to obtain a $36.3 million concessional loan, the statement said.

It added that the private sector and related beneficiaries will supply $16.7 million, and the Cambodian government will give $8.7 million.

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