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navigate_nextMedianavigate_nextOur Newsnavigate_nextACLEDA Agriculture Business-Matching Meeting
ACLEDA Agriculture Business-Matching Meeting
July 21, 2022
Phnom Penh - July 21, 2022, ACLEDA Bank Plc., the bank you can trust, the bank for the people, has conducted ACLEDA Agricultural Business-Matching Meeting which participated by local and foreign investors in order to build up extensive business networking and opportunity to invest in agriculture sector in Cambodia.
Dr. IN Channy, President & Group Managing Director of ACLEDA Bank Plc., addressed "The purpose of the business-matching event today is to create opportunities for both local and foreign investors, in particular Japanese investors to meet each other for building business networking and investment in agriculture sector in Cambodia. Cambodia is one of the fastest growing economies in the region. The agriculture sector has played a pivotal role in driving and substantial contribution to socio-economic development and it employs the vast majority of the workforce in Cambodia. At the interim, agriculture nowadays plays an integral role in ensuring sustainable food security and nutritious products for both Cambodia and other countries in the world".
He added that the Cambodian government has prioritized agriculture as a key sector for development. In order to take part with government to promote agriculture sector to contribute to economic growth, as of June 2022, the ACLEDA Bank has provided massive loans to the agriculture sector with the amount of USD1.21 billion accounted for 20.75% of the total loan portfolios of the Bank. It is worth to note that, as of March 2022, ACLEDA Bank took over 34% of loan to agriculture of banking sector in Cambodia. Given that the Bank has provided massive loans to the agriculture sector, JICA and SMBC provided co-financing loan of USD135M to ACLEDA Bank for further lending to agriculture sector in Cambodia. In the meantime, the Bank and state-owned bank, Agriculture and Rural Development Bank (ARDB) has equally provided co-financing loans to agriculture sector in the amount up to USD40M or equivalent in KHR. Following these co-financing schemes, it would enable the Bank to provide even more loan to agriculture in the industry.
ACLEDA Bank is the top bank in Cambodia that provides loan to agriculture sector. Through its largest branch networks in the country and the latest digitalization product, the Cambodian people in all segments of the communities, in particular those who live in rural areas could access their financial services of the ACLEDA Bank in all kind of services/products including loan in agriculture sector.
Mrs. So Phonnary, Senior EVP & Group Chief Operations Officer
Phone: 015 900 114
E-mail: phonnary@acledabank.com.kh
