Microfinance Focus, Dec. 10, 2009: The ABD will assist Cambodia develop microfinance institutions and rural livelihood service providers in Cambodia’s Tonle Sap Basin region by providing $30.7 million in loans and grants program to aid a new Cambodia new initiative to boost income and food security in the region.
Two of ADB’s development partners in Cambodia, the International Fund for Agricultural Development (IFAD), and the Government of Finland will also contribute a further $19.1 million. The project will spur agricultural productivity and increase incomes for up to 2.5 million people in 630,000 households in the poor Tonle Sap Basin provinces of Banteay Meanchey, Kampong Cham, Kampong Thom and Siem Reap.
It will fund new or upgraded infrastructure, which is likely to include small-scale waterworks for irrigation and flood control systems, and improved farm-to-market roads. In addition the project will help to establish commune-based livelihood improvement groups that will provide revolving funds to members to buy agricultural supplies such as seeds and fertilizers. Support will be given to build up the capabilities of microfinance institutions and rural service agencies, to train farmers in modern agriculture technologies, and to boost access to information through internet centers or e-kiosks that can be utilized by commune members.
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