The Ministry of Water Resources and Meteorology and the Agricultural and Rural Development Bank (ARDB) enter a memorandum of understanding to finance the private sector in developing irrigation systems in Cambodia.
The Minister, H.E. Thor Chetha, presided over the signing of the agreement at the ministry on Mar. 3.
Under the deal, ARDB will provide loans with more reasonable interest rates to innovative private companies to advance irrigation to effectively support agriculture, agro-industry, and the rural economy.
According to the Minister, Cambodia currently has a total of 2,352 large, medium, and small-scale irrigation systems and eight mega reservoirs, contributing to expanding irrigation capacity to nearly two million hectares.
The newly signed agreement, he said, is expected to further expand and modernise the irrigation systems not only to ensure water security for agricultural activities and household water use but also to promote food protection.
The endeavour will eventually support more effective implementation of the national policies and strategies, including the government’s export targets of rice and other agricultural products, he added.
