The Minister of Economy and Finance Gives Several Recommendations for the Rural Development and Agricultural

Phnom Penh, December 14, 2023 --

Speaking at the celebration of the 25th anniversary of the establishment of the Rural Development and Agriculture Bank on December 13, 2023, H.E Aun Porn Moniroth, who is also Deputy Prime Minister, outlined his advice for the Bank to implement. The recommendations are as follows:

First: Setting out detailed measures and action plans in accordance with its jurisdiction, in close cooperation with the relevant ministries and institutions in order to obtain good results of the tasks assigned by the Royal Government.

Second: Participating in the process of preparing, monitoring and evaluating the implementation of policies and strategies of the Royal Government related to agriculture and rural development in order to have more opportunities to regulate the Bank's products and activities more comprehensively.

Third: Mobilizing more investment from the private sector to be integrated into the agricultural value chain to contribute to the development of support infrastructure before and after the harvest, cooperating with relevant ministries and institutions to solve market problems for farmers, to contribute to the promotion and processing of agricultural and agro-industrial products.

Fourth: Contributing to improving the financial environment and promoting the expansion of digital banking services in line with the digital business development policy through additional investment in digital infrastructure and new product development.

Fifth: Promoting the diversification of lending by region and priority sector by increasing the promotion of services closer to customers.

Sixth: Promoting green financing to ensure sustainable development through the provision of additional benefits or special conditions.

Seventh: Participating in the development of business of farmer producers by supporting their families to become entrepreneurial and by providing loans for the expansion and promotion of agricultural production.

Eighth: Mobilizing additional resources from potential sources, especially from large deposit sources and Ninth: Improving the efficiency of the Bank's operations through additional skills training as well as the establishment of an appropriate incentive system for officers and staff at all levels, coupled with the strengthening of work disciplines.