SPECIAL FINANCE PROJECT TO SUPPORT RICE MILLER ASSOCIATIONS
13 October 2014
According to the highest recommendation of Samdech Akeakmohasenapadey Dacho Hun Sen Prime Minister of the Kingdom of Cambodia and following the care from the Ministry of Economy and Finance and Supreme National Economic Council, RDB is responsible for implementation the special loan provided by the government included the counterpart fund of RDB as a working capital to the Rice Miller Associations and Rice Market in the purpose of purchasing paddy during the harvest season, preventing paddy outflow and enhancing domestic recycle, increasing value added, increasing the number of stock for national food security, and the rice market competition both price and quality, especially, transforming the paddy exporting to the rice exporting.
This financinghas been started since 2005 in the amounts of USD 2 Million and increased to USD 4 Million in 2006, USD 6 Million in 2007, USD 16 Million in 2008, USD 14 Million in 2009 and up to USD 18.9 Million in Jan 2010. As the result, this project is taking part in pushing the rice price in Cambodia to the lower rate growth comparing to the neighboring countries and world market.
With this project, RDB Wonthe Assocation of Develoment Financing Institutions in Asia and the Pacific (ADFIAP) award 2009. This recognition award was given on April 28, 2009 in Muscat, Oman at the ADFIAP AWARD night during the 32nd ADFIAP Annual Meeting which attended by 100 Micro Finance Institutions and Banks from 40 countries, and was presided over by H.E.Mr. Ahmed bin Abdulnabi Macki, Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resource Council.
