Gov’t plans to provide low-interest loans to breeding owners cultivation industry

The Rural and Agricultural Development Bank and the Ministry of Agriculture, Forestry and Fisheries held a meeting on April 22 to discuss the issue of providing low-interest loans to cultivation industry owners during the COVID-19 pandemic.

The chairman of the Cambodian Feeding Industry Association, Mr. Shun Bao, said that since the outbreak of COVID-19, the feeding industry in Cambodia has not decreased, but the growth is slow down. Now with the support of the government, he believes that the industry will get fast development.

He believes that the government provide 50 million US dollars low-interest loans will certainly support the development of breeding and planting industries.

Kao Thach, chairman of the Rural and Agricultural Development Bank, said that the bank only provides low-interest loans to companies with an investment of not exceed US $ 300,000, with an annual interest rate of 6.5%, and loans to companies with liquidity of up to US $ 200,000, with an annual interest rate of 6 %.

He added that we also provide low-interest loans to small and medium-sized enterprises involved in agricultural processing, poultry and livestock farmers, vegetable growers, fish farmers, etc., but collateral is required.