Phnom Penh (VNA) – The United States Agency for International Development (USAID) has launched a new 25 million USD project that aims to promote sustainable economic growth by increasing diversification and competitiveness in Cambodia’s agricultural sector.
The project, known as “Harvest III”, which will be carried out in five years, is funded by the US Government’s Feed the Future initiative and managed by USAID.
US Ambassador to Cambodia W. Patrick Murphy said the US Government has invested nearly 100 million USD over the past decade to improve both nutrition and family incomes in Cambodia by strengthening the country’s agriculture sector.
“In this global food crisis, it is critical that Cambodia strengthen its food security and Harvest III reflects the US government’s commitment towards this goal,” he was quoted as saying in a press release.
Harvest III will work with agriculture cooperatives, technology providers, financial institutions, and other stakeholders to develop a skilled workforce, create jobs, and capture market opportunities in the agriculture sector by working with the private sector. The project will build on investments that USAID/Cambodia has already made promoting sustainable economic opportunities and climate-smart agriculture technologies.
It is expected to help improve livelihoods for Cambodians, especially women, youth and marginalised populations
Over the five-year period, USAID anticipates generating 38 million USD in new private sector investments, creating over 3,000 jobs, helping agriculture businesses and producers access the 15 million USD in agriculture-related financing, and generating 100 million USD of sales.
The new Harvest III programme was announced on August 4 by US Secretary of State Antony Blinken during his visit to Cambodia./.
