PHNOM PENH – Wing Bank has solidified a major partnership with the Ministry of Agriculture, Forestry and Fisheries (MAFF), committing $3 million in funding to boost climate-resilient agriculture across Cambodia. The initiative, formalized through a Memorandum of Understanding (MoU), reflects a shared goal of sustainable agricultural development and supporting the nation’s ambitious climate targets.
The funding is specifically allocated to MAFF’s project, “Climate Resilience Enhancement for Building Adaptive Capacity in Agri-Value Chains in Cambodia.” This program is designed to empower local farmers, agribusinesses, and agro-processing entrepreneurs to adopt modern technologies that can withstand the impacts of climate change.
Collateral-Free Loans for Innovation
Under the program, agricultural stakeholders in the initial five target provinces—Battambang, Kampong Chhnang, Kampong Thom, Prey Veng, and Takeo—will be eligible to apply for low-interest loans.
Applicants can secure financing up to $200,000 with a highly competitive annual interest rate of just 8.5%. A key feature of the offering is the removal of significant barriers: the loans will be offered without the need for collateral or loan approval fees.
The financing is intended to facilitate the adoption of innovative agricultural solutions, including Solar-powered irrigation systems, Net houses, Efficient water management systems, Renewable energy applications and Modern farming practices
By providing accessible capital, Wing Bank and MAFF aim to help farmers grow more efficiently and effectively adapt to changing weather patterns, thereby strengthening their livelihoods and ensuring food security.
Driving National Climate Goals
Beyond immediate financial support for farming communities, the partnership is set to contribute directly to Cambodia’s national environmental objectives. By promoting the adoption of cleaner, more efficient technologies, the initiative will play a role in the national goal of reducing greenhouse gas emissions by 55 percent by 2035.
Wing Bank stated its pride in being a “trusted partner” of the Ministry, emphasizing a commitment to enabling agricultural communities to thrive while fostering a more sustainable future for Cambodian agriculture.