ADB to loan $55 million to Cambodia’s rice sector

The Asian Development Bank (ADB) has approved a loan of $55 million to help transform the rice sector of Cambodia into a viable commercial industry as well as taking care of the land and water resources. … ADB’s Climate-Resilient Rice Commercialization Sector Development Program―which will run through to 2019―will help address regulatory obstacles, improve rice value chain infrastructure, and support services, while protecting agricultural land and raising its productivity, according to an ADB statement. The loan will be given to fund projects in the provinces of Battambang, Kampong Thom and Prey Veng, the largest rice producing provinces in the country, to help farmers improve crop productivity and efficiency. … In addition to the ADB’s loans, ADB will also administer loans and grants of $9.5 million from the ADB’s Strategic Climate Fund and a $14.6 million grant from the Global Agriculture and Food Security Program. The Government of Cambodia will supply $8.3 million for a total program investment cost of $87.4 million, as reported by ADB.