Phnom Penh: The Asian Development Bank (ADB) has provided $600,000 in new equity investments to two women-led agribusiness companies in Cambodia, which will help them drive new growth opportunities and contribute to the country’s inclusive and sustainable development, according to a letter from the ADB.
The investments are made through the ADB Frontier Project, a project supporting small and medium-sized enterprises with high growth potential. The investments will help Cambodian food processing company Sek Pei Enterprise, a women-led enterprise, and Khmer Milky Food (KMF), a women-owned dairy processing company, to expand production, strengthen local value chains, and create jobs.
“Investing in women-led enterprises can have significant benefits for the Cambodian economy,” said Yasmin Siddiqi, ADB Country Director for Cambodia. By supporting the growth of these enterprises, ADB is strengthening the agribusiness sector to be more competitive and resilient, creating opportunities for women, farmers, and future generations.”
Cambodia’s food production sector is booming, with new local businesses producing products that were previously dependent on imports. Sek Pei Enterprise is a prominent Cambodian brand for rice flour products and the first enterprise to produce rice noodles. KMF Enterprise produces quality cheese and yogurt from locally sourced milk, offering new options that do not add preservatives for long shelf life. Both enterprises use mostly Cambodian-sourced raw materials and process them locally.
“Both businesses have deep roots in Cambodia, source local raw materials, process their products locally, and create value chains that help keep economic opportunities and incomes in the country,” said Ms. Kit Sophon, Investment Manager for the ADB Frontier Project.
The ADB Frontier Project supports underserved enterprises to grow by providing innovative and flexible financing tailored to the needs of small and growing businesses. Managed by ADB, the project is financed by the governments of Australia, the Republic of Korea, and Switzerland, along with other partners.
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