Support for Rice Industry Paying Off

International Finance Corporation (IFC), a member of the World Bank group, has been helping finance Cambodia’s rice industry and from 2012 to 2015 has provided more than $140 million for the development of the industry since the rice policy was released by the government to boost exports to one million tons of milled rice. IFC on Wednesday released the results of the IFC’s Rice Sector Support Program, co-funded by the European Union (EU) and the Enhanced Integrated Framework (EIF), over rice projects in Cambodia.

So far IFC has directly facilitated more than $140 million worth of Cambodian rice exports, of which more than 50 percent involved the high-value fragrant rice. With IFC support, 11 rice mills have obtained Hazard Analysis and Critical Control Points (HACCP) certification. The IFC has also provided training to hundreds of rice millers and re-processors to improve operational efficiency and quality control. In addition, IFC has helped more than 34,000 farmers in eight provinces learn about the latest farming techniques and adopt improved fragrant rice seeds, it said.

“Today, IFC and the CRF (Cambodia Rice Federation) are hosting a knowledge sharing workshop to exchange ideas with government representatives, private sector stakeholders and development partners. Attendees will learn about IFC’s key lessons and achievements in the last five years and discuss the sector’s next steps including its current challenges, and ways to increase competiveness,” it said. Sok Puthyvuth, the president of the CRF, said Cambodia’s formal milled rice exports have significantly increased in the last five years, from approximately 100,000 metric tons in 2010 to 530,000 in 2015.

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