Cambodia Plans More Than US$60 Million to Promote Markets for Small-scale Agriculture

Cambodia's Minister of Commerce H.E. Pan Sorasak said the country will further promote the markets for small-scale agriculture.

Speaking after the Accelerating Inclusive Markets for Smallholders (AIMS) Start-Up Workshop held at the Ministry of Commerce this morning, H.E. Pan Sorasak underlined the significance of agriculture in improving the Cambodian people's livelihood and welfare.

About 75,000 households are expected to benefit directly from the project within increased household assets of at least 30 percent, he said, adding that the project will focus on five flagship commodities including quality assured rice, cassava, vegetables, backyard chicken and raw silk in 15 provinces of Cambodia.

In order to achieve the project, cooperation from all stakeholders in the value chains such as smallholder farmers, buyers, sellers, traders, additional service agents, micro-finance institutions and government agencies, etc. is needed, stressed H.E. Minister.

According to the Ministry of Commerce, AIMS is a new project financed by a loan from International Fund for Agriculture Development (IFAD) in the amount of US$36.3 million and counterpart funding from the Royal Government of Cambodia and private sector beneficiaries that totaled about US$61.6 million.

The primary objective of AIMS project is to enhance prosperity of Cambodian smallholder farmers through increasingly profitable links to agri-businesses and markets.

This six-year project will carried out by the Ministry of Commerce in collaboration with the Ministry of Economy of Finance and the Rural Development Bank.

Source: Agency Kampuchea Press