In a significant move towards advancing Cambodia’s rice production and promoting sustainable agricultural practices, Wing Bank, WingCommerce, Amru Rice, and the Cambodian Agriculture Cooperative Corporation Plc (CACC) have formalized their collaboration. The partnership was solidified through a memorandum of understanding (MoU) signed at the 4th Sustainable Agriculture Summit held in Phnom Penh on February 28, 2024.
This groundbreaking alliance aims to provide farmers with a comprehensive solution that integrates financial services and digital marketplaces to enhance their agricultural ventures and improve their quality of life. The summit, which focused on Regenerative Agriculture for Agro-Environmental Sustainability, drew approximately 350 attendees from both the private and public sectors.
Manu Rajan, CEO of Wing Inter Logistic Technologies Co, Ltd, emphasized the role of technology in bridging the divide between the agricultural community and digital banking services. The Wingagri platform, a key component of this initiative, is designed to offer efficient and accessible solutions to stakeholders in the agricultural sector.
The collaboration enables Amru Rice and CACC, along with their affiliated farmers and cooperatives, to access the Wingagri platform, expanding their market presence across the country. Additionally, Wing Bank is set to provide financial support up to 100 million riel to enhance farming operations without requiring collateral.
Hor Bunthe, Deputy CEO of Wing Bank, highlighted the partnership’s commitment to sustainable development in Cambodia. By providing necessary financial support, the collaboration aims to foster a prosperous future for farmers through sustainable practices.
Amru Rice, known for its focus on organic and sustainable products, has been promoting a supply-by-contract model with agricultural cooperatives since 2013. The company plans to expand its collaboration with 16,000 families across 25,000 hectares by 2024, aiming to reach 100,000 hectares involving 50,000 families by 2030.
Okhna Song Saran, Chairman and CEO of Amru Rice, expressed enthusiasm about the collective effort to enhance rice production and sustainable agriculture in Cambodia. The support from digital platforms like Wingagri and financial solutions from Wing Bank is expected to empower agricultural cooperatives and stakeholders throughout the agricultural value chain.
CACC, with Amru Rice as a stakeholder, operates based on a “Producer-Public-Private Partnership” model, facilitating the trade and management of agricultural produce. Kann Kunthy, Managing Director of CACC, stressed the importance of access to innovative solutions and financial support in promoting sustainable agriculture and ensuring the well-being of farmers.
This collaborative initiative marks a pivotal step towards improving Cambodia’s agricultural landscape, with a focus on sustainability and the empowerment of stakeholders through technology and financial inclusivity.
Source: Phnompenh Post
