RDB projects rising rice loan demand for harvest

10 Jul 2018  2054 | Cambodia Travel News

Content image - Phnom Penh Post
A rice farmer works in Kandal province during the 2016 harvest season. Heng Chivoan

State-owned Rural Development Bank (RDB) projected that the demand for loans in the rice sector will increase this season, said CEO Kao Thach on Monday.

He said while more rice facilities are ready for operation this year, there will be more demand for loans.

RDB disbursed $35 million to approximately 40 rice millers and exporters last year, out of the $50 million earmarked for loans.

The government’s decision to disburse loans directly through RDB sidestepped the Cambodian Rice Federation (CRF), the industry body that has lobbied the government since March 2016 to provide emergency funds for its members.

In September 2016, the government transferred its share of a $27 million package to RDB so the bank could disburse loans to millers, allowing them to purchase paddy from farmers.

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