The launch of Accelerating Inclusive Markets for Smallholders (AIMS) took place on Tuesday at the Ministry of Commerce in the presence of Pan Sorasak, Minister of Commerce, and representatives from International Fund for Agricultural Development (IFAD).
According to IFAD, AIMS is a $61 million project, for the period of six years, aiming to help Cambodian farmers to grow their crop and expand their business to meet the demand of today's market. This project will also help the Kingdom of Cambodia into integrate itself in the ASEAN Economic Community (AEC).
AIMS' primary target is smallholders farm households including poor and near poor farmers. In addition, AIMS' secondary target are agricultural cooperatives; farmer organisations, MSMEs; agribusinesses; service enterprises; and industry associations.
"The project aims at making agriculture more attractive to the younger generations and for them to benefit from farming and value chain integration as a profitable business," wrote IFAD.
According to IFAD, the implementation of this project will help 75,000 households in 15 provinces nationwide to increase their assets of at least 25 percent.
However, AIMS will support only "commercially viable value chains (VCs) and investment" in order for supported VCs to be able to sustain long term competitiveness and self sufficiency without direct or indirect public subsidies.
"To attract IFAD support, value chains must have credible potential for inclusive growth, with significant numbers of active but initially poorer farmers able to earn their fair share of profits from the growing value chains alongside other farmers and businesses," wrote IFAD.
Nevertheless, AIMS will provide only 20 percent of funding to farmers who have to borrow the rest of 80 percent of funding from commercial banks partnering with IFAD.
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