Phnom Penh: The Ministry of Agriculture, Forestry, and Fisheries has sought support on Agriculture Financing from banks and financial institutions for financing the Modern Agriculture Communities.
According to Agence Kampuchea Presse, H.E. Yim Leat, Deputy Governor of the National Bank of Cambodia, and H.E. Khim Finan, Undersecretary of State and Spokesperson of the Ministry of Agriculture, Forestry and Fisheries (MAFF), co-chaired a discussion meeting on ‘Agriculture Financing’ on Feb. 5 at the National Bank of Cambodia, Sen Sok Building.
The meeting was attended by approximately 40 participants who are management and officials of the National Bank of Cambodia, the Association of Banks in Cambodia, the Cambodia Microfinance Association, banks and financial institutions and relevant institutions. The purpose of the meeting was to explore the possibility of expanding sources of financing for ‘Modern Agriculture Communities’ to bolster Cambodia’s rural development and agricultural crop planting for local consumption and export.
In the meeting, H.E. Khim Finan emphasized that modern agriculture communities are significant to enhance agricultural production to supply local and overseas demands. He asked for collaboration from the National Bank of Cambodia as well as banks and financial institutions to explore possibilities of lending on more favorable terms to transform Cambodia’s agriculture from household subsistence to robust economic enterprises and promote farmers’ standard of living.
The National Bank of Cambodia, banks, and financial institutions expressed their support and commitment to the establishment and development of modern agriculture communities by setting up programs and policies that are more favorable for agriculture financing.
After the meeting on agriculture financing, H.E. Yim Leat chaired another meeting on the promotion of financial inclusion in Cambodia, which was attended by officials of the National Bank of Cambodia and representatives of the Association of Banks in Cambodia and the Cambodia Microfinance Association.