Ifad and Cambodia Sign Historic Host Country Agreement [press release] (allAfrica.com) | Lao Tribune

Ifad and Cambodia Sign Historic Host Country Agreement [press release] (allAfrica.com)

The International Fund for Agricultural Development (IFAD) signed a host country agreement earlier this month with the Kingdom of Cambodia, the culmination of almost 20 years of support and investment in rural areas. Since 1996, over 1.2 million poor and disadvantaged rural households have benefitted from IFAD’s partnership with Cambodia.

The host country agreement will allow a stronger partnership between Cambodia and IFAD and will expedite coordination and implementation of projects. IFAD will continue to play a leading role to improve rural livelihoods and empower smallholder farmers, raising their incomes and standards of living.

The host country agreement was signed in Rome on 11 August by Kanayo F. Nwanze, President of IFAD, and H.E Aun Pornmoniroth, Minister of Economy and Finance of the Kingdom of Cambodia. The agreement is an important step to establishing an IFAD country office in Cambodia.

“Establishing an IFAD country office in the country will help us to reach our development targets as well as strengthen IFAD’s collaboration with other development partners involved in agriculture and rural development,” said Benoit Thierry, IFAD Country Program Manager for Cambodia, Laos, Philippines and Thailand. “We will continue to support Cambodia in helping smallholders to increase agricultural production and take advantage of market opportunities while coping with the challenges of climate change and market volatility.”

IFAD’s current country strategic opportunities programme covers the period 2013-2018. It outlines a plan to work with partners on the ground to reduce poverty in rural areas and support the Government’s poverty reduction initiatives. The programme aims to improve smallholders’ access to market opportunities and rural services, and increase their resilience to climate change.

IFAD financing to Cambodia for the period 2013 -2018 is estimated at US$55 million. In addition, a US$15 million grant has been allocated from IFAD’s Adaptation for Smallholder Agriculture Programme to explicitly factor in actions to address climate change.

Since 1996, IFAD has invested US$140.4 million in 8 projects in Cambodia, with a total project cost of $283.6 million.