Agriculture and Rural Development Bank of Cambodia (ARDB) expects to receive an additional $30 million from the government for special-purpose loans to keep the Kingdom’s smaller businesses afloat amid the ongoing economic duress of Covid-19, according to the state-owned bank’s director-general Kao Thach.
Thach told The Post on March 22 that ARDB recently submitted a request to the government for the additional funds after the bank earlier this year finished disbursing $50 million that was supplied by state coffers in 2020.
He noted that fruit and vegetable growers, livestock farmers and aquaculturists received the bulk of the $50 million and put in steadily-increasing numbers of loan applications to increase their cultivation and expand their businesses.
“We’ve asked for an additional $30 million as there is growing demand. We’ll continue to encourage farmers who need more capital to contact ARDB for these loans,” Thach said.
https://www.phnompenhpost.com/business/ardb-seeks-30m-more-sme-loans