MEF Delegation Departs for IFAD Agreement Signing in Italy

Minister of Economy and Finance H.E. Aun Porn Moniroth and his delegation departed Cambodia late last week to Italy for an official signing of an agreement to promote markets for Cambodia’s small-scale agriculture.

The agreement worth more than US$ 36 million from International Fund for Agricultural Development (IFAD) will be co-signed at its Rome-based headquarters by H.E. Aun Porn Moniroth and Mr. Gilbert Fossoun Houngbo, the President of IFAD.

The amount from IFAD is a significant contribution to implementing the project that will need over US$61 million.

Benefiting some 75,000 Cambodian farmer households, the six-year project – from 2017 to 2022 – will support them to overcome challenges both in the production and market identification stages.

The project, implemented by Ministry of Commerce in collaboration with Ministry of Economy of Finance and the Rural Development Bank, primarily focuses on the production of rice, vegetables, poultry, cassava and silk in 15 provinces of Cambodia.

As planned the official signing ceremony of the said agreement will take place on Feb. 28.

Source: Agency Kampuchea Press