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USAID, IFAD assist Cambodian with agricultural development

The US Agency for International Development (USAID) and the International Fund for Agricultural Development (IFAD) have signed a cooperation agreement to assist Cambodia with agricultural development.
USAID, IFAD assist Cambodian with agricultural development ảnh 1Illustrative image. (Source: AFP/VNA)

Hanoi (VNA) – The US Agency forInternational Development (USAID) and the International Fund for AgriculturalDevelopment (IFAD) have signed a cooperation agreement to assist Cambodia withagricultural development.

The project will be carried out in five years from2017 with a funding of nearly 160 million USD.

According to a press release issued by the US Embassyin Cambodia on February 2, the Memorandum of Understanding on cooperationbetween the USAID and IFAD was signed on January 27.

Under the MoU, via the US government’s future foodsecurity programme, the USAID plans to invest around 40 million USD to support Cambodia’sagricultural development while the IFAD will provide 118 million USD in bothnon-refundable aid and loan.

Besides, the USAID and IFAD will also share experienceand help Cambodian farmers improve their farming methods to boost productivity andenhance competitiveness and value of agricultural products.

IFAD Asia Pacific Director Benoit Thierry said theIFAD is calling other organisations to join the programme.-VNA

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#USAID#IFAD#Cambodia#agriculture
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