12 November 2014
The
Cambodian Rice Federation (CRF) is seeking financing from China’s Export-Import
Bank (Ex-Im) to build much-needed infrastructure such as warehouses and drying
facilities to hopefully increase milled rice export capacities.
President
of the CRF told the Post yesterday that the CRF had set up a working group
charged with studying Cambodia’s rice industry and preparing a proposal for the
Chinese bank’s funds. In May, during the CRF’s presidential appointment, that
Cambodia’s rice industry needed more than $500 million in financial assistance
for industrial development. CEO of Acleda Bank, which last year provided about
50% of the agriculture industry’s $700 million worth of commercial banking
loans, said the CRF will have to provide clear and transparent financial
statements to prove the need for such a loan.
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