Two new rice-storing facilities in Battambang, funded through a government-led lending scheme, were officially launched yesterday.
A warehouse capable of storing up to 200,000 tonnes of rice and a silo that can dry around 3,000 tonnes per day are now operational.
Together, they have cost $15 million, which was fully financed with a loan disbursed by the Rural Development Bank (RBD) to the Cambodia Rice Bank in April last year.
They are part of a government lending scheme that makes low-interest loans, known as ‘emergency loans’, available to agricultural firms that want to build rice storage facilities. The initiative aims to boost their storage capacity during harvest season as well as bolster paddy prices for farmers.
Kao Thach, RBD’s director-general, said the lending scheme was needed to combat a drop in the price of rice in 2016 and a lack of storage facilities across the nation.
“After the launch of the lending scheme, the price of rice has stabilised,” Mr Thach said, adding that the price of fragrant rice has reached 1,200 riel per kilogram this year, compared to 900 riel last year.
