The Asian Development Bank’s (ADB) approved a $90 million loan on Wednesday to help Cambodia modernise the agriculture sector and enhance climate resilience.
The Climate-Friendly Agribusiness Value Chains Sector Project will cost more than $141 million to implement, with the government of Cambodia and beneficiaries contributing slightly over $11 million.
It will also be funded by a $10 million loan and a $30 million grant from the Green Climate Fund (GCF) – both of which will be administered by ADB. It is the first project in Cambodia to receive funding from GCF.
The project will boost the climate resilience of critical agricultural infrastructure while helping improve the competitiveness of the value chains of rice, maize, cassava, and mango production.
It also seeks to rehabilitate irrigation and water management systems, upgrade agricultural cooperatives’ value chain infrastructure, improve farm-to-market roads as well as safety and quality testing infrastructure, and promote renewable energy to reduce greenhouse gas emissions.
