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Financing available for biogas in commercial agriculture
United Nations Industrial Development Organization (UNIDO), Biogas Technology and Information Center (BITC) and Cambodia Post Bank Pl. (CPBank) promote a strategic collaboration to enhance access to finance of agribusiness for commercial biogas investment in Cambodia.
BITC and CPBank signed a Memorandum of Understanding (MoU) yesterday that establishes a cooperation framework to promote investments of commercial biogas technologies in Cambodia hosted by the Royal University of Agriculture (RUA).
This initiative is supported by UNIDO through the project “Reduction of Greenhouse gas emission through Promotion of Commercial Biogas Plants”, funded by the Global Environment Facility (GEF), a key project for UNIDO’s ongoing programme for country partnership in Cambodia.
Under the framework of the MoU, the two parties will jointly identify opportunities to help national and international investors to invest in biogas technologies, as well as in other related waste-to-energy technologies that will enhance access to financing for financially viable agribusiness.
This would increase competitiveness of Cambodian businesses through better management of manure and wastewater and utilisation of biogas as alternative renewable energy for productions. This responds to the growth of the commercial pig farms and agro-processing sectors, which leads to a surge in waste generation and in the use of electricity for production.
Commercial biogas can become an effective solution to the environmental concerns these businesses face, such as the need to treat wastewater in order to prevent eutrophication, foul odours and greenhouse gas emissions and address high operation costs.
As part of its commitment, CPBank has now integrated biogas loans into its existing SME loan scheme for loans up to $100,000. In the long run, the loan ceiling can be higher.
CPBank CEO Toch Chaocheck said: “We see biogas technology as an essential instrument for agribusiness, especially as it allows farmers to convert waste into electricity, a key solution to mitigate Greenhouse Gas (GHG) and, on the other hand, to use resources efficiently and contribute to social sustainable development.”
“Access to funding for SMEs to invest in biogas projects is one of our strategic priorities to assist SMEs development in the Kingdom,” he said.
BTIC director Lor Lytour said: “This is the first time for BTIC to sign a MoU with a bank to promote commercial biogas.”
UNIDO representative Sok Narin added: “This partnership lays a solid foundation for improving agribusinesses’ access to finance to invest in commercial biogas technology, an effective waste management solution that would help them meet environmental standards while increasing their businesses’ competitiveness by lowering operating costs.”
This MoU is aligned with the Agriculture Ministry’s efforts to update its biogas policy for 2021-2030, as well as with many of the objectives set by the government in UNIDO’s Programme for Country Partnership (PCP), in the fields of sustainable energy and circular economy promotion.
CPBank CEO Toch Chaocheck (centre L), BTIC director Lor Lytour (centre R) and UNIDO representative Sok Narin (second centre R) attend the MoU ceremony at Cambodia Post Bank Plc.
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