ANGKOR KASEKAM ROONGREUNG CO. LTD.
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Angkor Kasekam Roongreung Co. Ltd. (AKR) is one of the largest rice miller in Cambodia. The company gained a good reputation processing qualified fragrant rice “Neang Malis” which is marketed market both domestically and internationally. The company sources its paddy via a dedicated network of member-farmers. These farmers receive inputs and assistance which enables them to produce the high quality paddy.
What is our funding objective?
The proposed funding will be used for AKR’s investment in a dryer and working capital for expanding its contract farming program for sourcing fragrant rice.
Why do we fund this investment?
Long-term working capital funding is not available locally. In addition, the proposed project is inclusive and potentially green.
What is the Environmental and Social categorization rationale?
The proposed project is categorized as B+; attention is given on OHS risks during construction, waste water treatment during operations as well as irrigation water management in the supply chain. The activities are much appreciated by the famer communities and fit in the government’s policy targets. Relevant IFC Performance Standards are: 1 Assessment and Management of Environmental and Social Risks and Impacts; 2 Labour and Working Conditions; 3 Resource Efficiency and Pollution Prevention; 4 Community Health, Safety and Security. IFC Performance Standards 5 to 8 are not applicable: 5 The impact of the factory is very limited. There is no land acquisition nor are any minority communities affected; 6 The expansion of the sourcing of AKR is not very likely to have any negative impacts on biodiversity conservation and sustainable management of living natural resources; 7 No indigniuous people are affected; 8 Cultural heritage is not applicable as the factory is already established and the supply chain expansition will come from existing paddie fields and farming families. Applicable are IFC Performance Standards, General IFC EHS Guidelines and IFC “Sector EHS Guidelines for Annual Crop Production” (2016).
More investments
| Date | Total FMO financing |
|---|---|
| 12/28/2021 | USD 2.00 MLN |
- Website customer/investment
- http://angkorrice.com/
- Region
- Asia
- Country
- Cambodia
- Sector
- Agribusiness, Food & Water
- Publication date
- 10/2/2017
- Effective date
- 12/3/2017
- End date
- 12/28/2021
- Total FMO financing
- USD 21.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+