ADB lends 70 mln USD to Cambodia for rice commercialization, finance reforms
The Government of Cambodia and the Asian Development Bank (ADB) on Monday signed loan agreements worth $70 million to expand the country’s rice sector and promote reforms in the finance sector, an ADB’s statement said. Signed by Cambodian Deputy Prime Minister and Finance Minister Keat Chhon and ADB Country Director Eric Sidgwick, the agreements covered the Climate-Resilient Rice Commercialization Sector Development Program (Rice-SDP) with the loans of $55 million and the Finance Sector Program with the remaining $15 million. … The investment part of Rice-SDP will cover Battambang, Kampong Thom, and Prey Veng provinces, among the largest rice producing areas in the country, it said, adding that an efficient rice value chain and increased productivity will benefit about 1 million low income rice farming households, with each expected to gain additional income of $300 a year by 2020. …
Xinhua News Staff
http://www.globaltimes.cn/content/806367.shtml#.UhsAYtKBmN8
