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Thursday, February 23, 2012

AFD PROVIDES US$4.55 MILLION TO BOOST CAMBODIA’S RICE TRADE

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AKP Phnom Penh, February 23, 2012 – 

The French Development Agency (AFD) and the Royal Government of Cambodia yesterday entered into a EUR3.5-million (about US$4.55 million) partnership agreement to support the trade of Cambodian rice, a press release from the Embassy of France said. 

The agreement was signed by H.E. Dr. Aun Porn Moniroth, Delegate Minister Attached to the Prime Minister and Secretary of State at the Ministry of Economy and Finance of the Royal Government of Cambodia, French Ambassador to Cambodia H.E. Christian Connan and Director of AFD in Cambodia, Mr. André Pouilles-Duplaix. 
“This project gives concrete expression to the French Prime Minister’s commitment, announced during his official visit to Cambodia on July 1st and 2nd, 2011. It symbolizes France’s will to contributing to the economic development of the country by supporting a key sector of Cambodia’s agriculture: the rice industry,” the French ambassador said. 

Financed by AFD, the project is aimed at maximizing the incomes of the producers and national economic players involved in the rice sector. It will contribute to the national strategy for the development of rice export and the achievement of one of the Royal Government of Cambodia’s top priorities, said the press release.
With a 15 year-long experience of rehabilitating irrigated perimeters, AFD will implement this new project in order to help increasing the local rice industry’s capital gain by supporting the enhancement of all involved actors’ performance and providing them with an improved access to the export markets, it added. 

The project will contribute to the development of the Cambodian rice through the organization of the national rice industry and the capacity-building of the relevant actors; setting up of quality standards in order to promote the Cambodian rice on the international market; the promotion of contract farming; and the capacity building of the Rural Development Bank to allow it to fully play its role as a financial intermediary and answer to the financial needs of the rice sector. 

The project will be carried out in close collaboration with the technical team formed within the Economic and Financial Policy Committee (EFPC) and the Supreme National Economic Council (SNEC), indicated the press release. 

By KHAN Sophirom

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