The Rural Development Bank and Agriculture (NCDD) has organized a presentation on availabilityLoans to farmers, fish, chickens, ducks and vegetables, and to SMEs in agricultural production And agriculture in Kandal Province.
The presentation was presided over by HE Kao Thach, Director General of the NCAC and HE Kong Sophorn, Director of the Committee The Governor of Kandal province will be joined by representatives of the Provincial Departments of Agriculture, who raise fish, poultry and vegetable farming and small enterprises Average in agricultural product processing, agro-industry Industry and agriculture, a total of 250 people.
The Governor of the province also asked the Rural Development Bank and Agriculture to relax favorable conditions to provide loans to farmers. He / she gets a loan to do business or to expand his business, lowering interest rates for farmers who have access to credit. And request for an understanding of interest payments in the context of the HIV-19 epidemic in accordance with the guidelines of the Royal Government and Governor of the National Bank of Cambodia.
In response, HE Kao Thach informed all those present that he had received the attention of the Royal Government, Rural Development Bank and Agriculture has been acting as an intermediary for the management and implementation of the government's special financing program of up to 50 million USD. USD US to provide low-interest credit to support smallholder farmers, fish, poultry, vegetable growers and small and medium enterprises. Agriculture, agribusiness and agriculture to enable you to expand your business and improve your value chain. In principle – Creating more jobs, enhancing competitiveness and expanding the local production base to boost both exports and reduce imports in the economic phase Cambodia faces some of the challenges associated with COVID-19 and EBA.
At the same time, he said that the principle is to get loans from US $ 10,000 to US $ 300,000 with an annual interest rate of 6% Rotation (short term 2 years) and for equity investment (5 years long) at 6.5% interest rate One year from the PF Financing Program In this regard, HE Governor had also introduced some requirements for farmers, fish, poultry, vegetable and small and medium enterprises. Required fields are:
– There should be at least 5 to 30 new job expansion projects, – Local production location, Legal Registration, Taxation – VAT is needed and credit is used for working capital.
HE Kao Thach also stated that the interest rate is being reduced to 5% annually. If indicated and advised by management.
Also, with regards to credit insurance under this special program, Rural Development Bank and Agriculture can provide up to 80% of the value of the debt secured by the loan. Real estate and debt consolidation are also much more flexible by accepting: – Equipment – Machinery – Inventory Buyer's or Other Guarantee – Certification Deposits other than real estate (land and buildings).
HE Khieu Thach added that on the implementation of the Government's Special Financing Program of up to US $ 50 million, the Rural Development Bank and Agriculture also has other credit products that interest farmers, and he also encourages farmers in case of Mm Failure to meet the requirements of the Royal Government's Special Financing Program, you may consider borrowing from your other credit package. Also, the NCDDS.
In connection with this, HE Kao Thach, Director General of the Bank for Rural and Agricultural Development, made a request and request to farmers for livestock and poultry. Grow vegetables, develop a clear planting plan, supply to the market in a timely and sustainable manner, and contribute to the reduction Importing information Countries. By: Beauty