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Monday, July 16, 2012

France Supports Cambodia’s Microfinance Sector and Rubber Plantation

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Two financing agreements, implemented by French Development Agency (AFD), were signed on 12 July 2012 at the Ministry of Economy and Finance to support two key sectors for economic and rural development in Cambodia. The first agreement worth 800 thousand Euros (equal to 1 million USD) with Cambodia Microfinance Association (CMA) was inked by Mr. Bun Mony, President of CMA, and Mr. André Pouilles Duplaiz, Director of AFD in Phnom Penh. This project aims at strengthening capacity of Cambodia’s microfinance sector by contributing to the sector stability and promoting the principles of responsible finance to enable sustainable growth of microfinance in Cambodia. The second agreement which amounts 1 million Euros (US$1.25 million) was signed by DPM and Minister in charge of economy and finance with the aim at supporting the hevea sector, a leading provider of resources for export. The project will be implemented within the framework of Trade Capacity Building Program of AFD. (Rasmei Kam, 14 July 2012)

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