The European Union is investing nearly €80 million to modernize Cambodia’s agriculture sector and boost farmers’ access to domestic and global markets.

The investment will benefit 100,000 smallholder farmers, 25,000 smallholder households and 500 agricultural enterprises, helping to increase productivity and competitiveness.

On March 14, 2025, H.E Aun Pornmonirath, Deputy Prime Minister and Minister of Economy and Finance, and Ms. Nicola Beer, Vice President of the European Investment Bank (EIB), attended the signing ceremony of the Grant Agreement for the Rural Economy and Trade in Agricultural Products Support Program between the Government of Cambodia and the European Investment Bank at the Ministry of Economy and Finance.

Ms. Nicola Beer, Vice President of the EIB, said that the European Investment Bank is proud to support the ASPIRE-AT program and Cambodia’s agriculture sector, which plays a key role in Cambodia’s economy and food security. Through this financing, we support the Royal Government of Cambodia in strengthening food security, increasing farmers’ incomes and providing new market opportunities for Cambodian products. This action is an important demonstration of what the European Union can achieve in terms of tangible results by creating jobs, boosting trade and strengthening the Cambodian economy.

H.E Aun Pornmoniroth, expressed his deep gratitude to the European Investment Bank (EIB), the EU and IFAD for their support and cooperation in creating and successfully implementing the ASPIRE-AT program.

He reiterated that the agreement signed for the ASPIRE-AT program today is a testament to the closer cooperation between the Government of the Kingdom of Cambodia and the European Investment Bank (EIB), the European Union and IFAD, and demonstrating the strong support of key development partners in the reform work in line with the Government’s first phase pentagonal strategy, as Cambodia aims to achieve the goal of becoming an upper-middle-income country by 2030 and a high-income one by 2050.

By Pheara!