Through the European Union (EU)-funded CAPFISH-Capture Programme and its Post-harvest Fisheries Development project, the Fisheries Administration (FIA), the United Nations Industrial Development Organization (UNIDO), and the Credit Guarantee Corporation of Cambodia (CGCC) join forces to embark on a groundbreaking Investment Support Facility (ISF) scheme aimed at catalysing growth in Cambodia's post-harvest fisheries. The ISF scheme is a blended financing initiative co-funded by the EU.
According to a joint press release, with its rich fisheries resources and cultural heritage, Cambodia holds great promise for excelling in the global fish and fishery products market. However, post-harvest fisheries face challenges such as inadequate fish-processing technologies, limited value addition, and food safety concerns impacting consumer trust and the sector's competitiveness on a global scale.
Partnership
Building on the success of its current Value Chain Investment Support (VCIS), the CAPFISH-Capture project has designed the ISF scheme to support post-harvest fisheries enterprises and their input suppliers in overcoming these challenges, enhancing productivity and product safety and quality. This scheme blends co-financing from the enterprises' own resources, guaranteed business loans distributed by the local financial institutions, and grant support from the project. This new scheme targets over 100 eligible enterprises in the fisheries value chain in addition to the 50 enterprises already being supported by the project's VCIS.
CGCC is selected to manage the ISF scheme in partnership with commercial banks and microfinance institutions. "ISF plays a pivotal role in enhancing Cambodia's fishery sector. Through ISF, eligible enterprises in the post-harvest fishery sector will be able to access technical support, capacity building, and financial assistance, including a grant and guaranteed loan with favorable conditions. ISF will contribute to the national economic growth and the development of the agricultural sector, which is one of the priorities of the Royal Government of Cambodia of the 7th mandate, through modernisation and quality improvement of agricultural products to ensure food security, resilience, high value-adding, and competitiveness in terms of both quality and price. Ultimately, these efforts contribute to the overarching goal of securing food supply and elevating the standard of living for the Cambodian people," said H.E. Dr. MEY Vann, Secretary of State of the Ministry of Economy and Finance (MEF) and Member of the Board of Directors of CGCC.
Emphasising the promising role of the ISF in enhancing the competitiveness in Cambodia's post-harvestfisheries, Mr. Dejene TEZERA, UNIDO's Director of Agri-business and Infrastructure Development, expressed,
"At UNIDO, we are proud to introduce the ISF scheme for this sector. Based on UNIDO's solid experience in innovative financing and value chain development, we firmly believe that this innovative financial model will elevate the value and quantity of safe, high-quality fishery products, enabling fish processors to thrive in global markets. Through investments in innovation and capacity building, we are paving the way for a future where Cambodian fisheries stand tall on the world stage, delivering excellence, reliability, and prosperity to local communities and beyond."
H.E. Igor DRIESMANS, EU Ambassador to Cambodia, lauded the timely launch of the ISF scheme, noting its potential transformative impact on Cambodia's fisheries sector. "By harmonising with global market requirements, including those of the EU, the ISF will not only help boost competitiveness and sustainability but also underpin economic expansion, public health safeguards, and local job creation in the sector. I am optimistic that the success of the ISF in this sector will inspire replication and scale up in other agricultural sub-sectors, catalysing holistic development, bringing more investment in the sector and prosperity across various segments of Cambodia's agricultural landscape," said the EU Ambassador.
New level
Acknowledging the invaluable support from the EU and UNIDO in bolstering food safety and fisheries sustainable development, H.E. DITH Tina, Minister of Agriculture, Forestry and Fisheries (MAFF), reaffirmed his commitment to further advancing the country's fisheries sector to new levels of success.
In line with the Royal Government of Cambodia (RGC)'s Pentagon Pillar 2: Economic Diversification and Competitiveness Enhancement, H.E. DITH Tina emphasised, "The ISF is a good initiative to support the collaboration between the Fisheries Administration of the Ministry of Agriculture, Forestry and Fisheries, UNIDO, and the private sector to promote growth in the post-harvest fisheries sector in Cambodia. I am positive that this programme, which will be implemented by CAPFISH-Capture Programme, will promote the processing of post-harvest fishery products to a higher standard and quality, as well as provide economic benefits to fishermen and processing enterprises."
Source : CAPFISH-Capture Programme - Illustrations: The Post
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