The International Fund for Agricultural Development (IFAD) will provide a 17.5 million USD loan and a 17.5 million USD grant to Cambodia to help the country improve agricultural productivity and diversify the sources of farmers’ incomes.

The agreement was signed by IFAD President Kanayo Nwanze and Cambodia ’s Secretary of State for the Economy and Finance Ministry, Aun Moniroth in Rome on June 8.

According to IFAD’s press release, the project will benefit approximately 90,000 rural households in the five provinces of Kampot, Kandal, Prey Veng, Svay Rieng and Takeo.

Farmers with no access to land or whose land is not suitable for cultivation, rural young people and households headed by women will be prioritised.

As part of the project the farmers will learn how to access new technologies and markets. The innovative training package will include improved production and marketing techniques and how to set up links between farmers and agricultural wholesale markets.

First established as an international financial institution in 1977 with its headquarters in Rome , the IFAD is dedicated to wiping out rural poverty in developing countries.-VNA