A new US$25 million project was launched here this morning to promote sustainable, broad-based economic growth by increasing diversification and competitiveness in Cambodia’s agriculture sector.
H.E. Veng Sakhon, Cambodian Minister of Agriculture Forestry and Fisheries and H.E. W. Patrick Murphy, U.S. Ambassador to the Kingdom presided over the launching ceremony.
According to a press release of the U.S. Embassy in Phnom Penh, Feed the Future Cambodia Harvest III – also known as “Harvest III” – is a five-year activity, funded by the U.S. Government’s Feed the Future initiative and managed by the U.S. Agency for International Development (USAID).
“The U.S. Government has invested nearly US$100 million over the past decade to improve both nutrition and family incomes in Cambodia by strengthening the country’s agriculture sector,” Ambassador W. Patrick Murphy said. “In this global food crisis, it is critical that Cambodia strengthen its food security and Harvest III reflects the U.S. government’s commitment towards this goal.”
The new Harvest III programme was announced on Aug. 4 by U.S. Secretary of State Antony Blinken during his visit to Cambodia.
Harvest III will work with agriculture cooperatives, technology providers, financial institutions, and other stakeholders to develop a skilled workforce, create jobs, and capture market opportunities in the agriculture sector by working with the private sector, the press release pointed out.
The project will build on investments that USAID/Cambodia has already made promoting sustainable economic opportunities and climate-smart agriculture technologies, said the source, adding that by collaborating with companies working in agricultural markets, the project will help improve livelihoods for Cambodians, especially women, youth, and marginalised populations.
Over the five-year period, it underlined, USAID anticipates generating US$38 million in new private sector investments, creating over 3,000 jobs, helping agriculture businesses and producers access US$15 million in agriculture-related financing, and generating US$100 million of sales.
Source: Agency Kampuchea Press