CAST Offers Financial Training and Loans for Cambodian Aquaculture Industry Growth

Aug 19, 2021

ASA-WISHH’s CAST Commercialization of Aquaculture for Sustainable Trade – Cambodia USDA Food for Progress project this week hosted a virtual workshop to share valuable food safety, market and financial information for fish farmers, feed distributors and other members of the aquaculture industry. The workshop offered important steps for quality and hygiene in fish production, as well as market information and how to access financing.

CAST project partner World Vision Cambodia organized the workshop in cooperation with the Cambodian Aquaculturalist Association. The event explained the financial product that is available to fish producers, hatcheries, feed distributors, and others who qualify for membership in the CAA. Chamroeun Microfinance, a Cambodian-licensed financial institution, is offering the loans. Promoting access to formal financial services is a key part of CAST. The workshop fostered dialogue between CMP and CAST beneficiaries.

The financial services are primarily available for small and medium-sized aquaculture enterprises. They build the business resilience of fish producers, hatcheries, feed distributors and other aquaculture industry members, including to improve their economic resilience during the pandemic.

Through CAST, World Vision Cambodia is leading a matching grant investment fund package to help expand businesses and increase investment in technology and equipment to improve products and production systems to meet market requirements. Investment fund packages range from $5,000 to $10,000 and must be used to invest in equipment such as refrigerators, solar dryers, solar pumps, transportation equipment, packaging machines, water purification systems for washing fish, drying cabinets etc.

The CAST team will provide financial, technical, marketing and food safety support, as well as will assist entrepreneurs in strengthening business skills, including business planning and activity monitoring. CAST will evaluate projects to provide feedback.

CAST is an example of how WISHH works to increase quality supplies of soy-based aquaculture feed, which ultimately provides consumers access to safe, affordable protein.