In a pivotal move to advance rice cultivation and endorse sustainable farming practices in Cambodia, Wing Bank, WingCommerce, Amru Rice (Cambodia) Co., Ltd, and the Cambodia Agricultural Cooperative have joined forces. This collaboration was formalized through a Memorandum of Understanding (MoU) during the 4th Sustainable Agriculture Summit held in Phnom Penh on February 28.
According to the MoU, members of the agricultural cooperatives associated with Amru Rice and CACC will gain access to the WingCommerce marketplace, which includes the agricultural e-commerce platform Wingagri. This initiative is designed to leverage market opportunities and extend the reach of their products.
Furthermore, the agreement stipulates that each CACC member can secure financial support from Wing Bank, with loans reaching up to 100 million Riel (approximately $25,000), for their agricultural activities. Notably, these loans will be granted without the prerequisite of collateral.
The statement released on this occasion highlighted the importance of this collaborative endeavor in transforming Cambodia’s agricultural sector. It aims at not only enhancing productivity and sustainability but also at strengthening the entire agricultural value chain by involving all stakeholders.
The adoption of digital solutions and the provision of accessible financial services are expected to catalyze the growth of a robust and eco-friendly rice production sector in Cambodia. This strategic partnership marks a significant step towards realizing a sustainable agricultural future, ensuring the well-being of farmers, and contributing to the overall economic development of the country.
Source: Khmer Times
