AGRIBEE (CAMBODIA) PLC.

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Building J92AB, St. 289, Sangkat Boeng Kok 2, Khan Toul Kork,

Phnom Penh, Cambodia

Tel: (+855) 96 77 00 111

Mail: [email protected]

Web: http://agribee.co

AGRIBEE Provides Crop Insurance Protection for Farmers

Phnom Penh (June 30, 2020) – AGRIBEE (Cambodia) PLC., has signed a partnership agreement with Arbol Inc., the U.S based Weather Contracts Company, to provide crop coverage for 2,000 paddy producer clients for the period from July to December 2020.

“It is AGRIBEE’s job to take good care of our clients and that not only the farmers, but also the financial institutions in case natural disasters like droughts or floods would happen to them”, said AGRIBEE’s CEO, Mr. Pakk YOURNG. He continued that in Cambodia, farmers are the most vulnerable players in the whole value chain as they rely heavily on the weather. As a result, they would face with unpredictable natural disasters such as floods and/or droughts leads to a loss of their crop yield and results in an over- indebtedness.

“It is our privileges to work with AGRIBEE to support the farmers in Cambodia. We understand that agriculture, specifically crops production has always unpredictable, therefore, the investments pour into the agriculture has seen very limited. Through this taskforce with AGRIBE to protect all stakeholders includes farmers and financial institutions, we would expect more investments will be pouring into the agriculture, especially paddy farmers”. Sid Said.

AGRIBEE has subscribed to the Crops Insurance for its client to cover floods and droughts with a premium of USD15 and a maximum pay-out of USD 150 per hectare.

In 2020, AGRIBEE has planned to onboard 2,000 active farmers to produce the paddies in 15 provinces around the Tonle Sap Lake. Those provinces are Kampong Thom, Siem Reap, Oddar Meanchey, Banteay Meanchey, Battambang, Pailin, Pursat, Kampong Chhnang, Kampong Speu, Kampong Cham, Takeo, Kampot, Kandal, Prey Veng and Svay Rieng.

Arbol Inc. is a software platform connecting end-users with innovative weather risk management solutions with a lower-cost. Arbol is reshaping the weather risk market by combining Big Data, machine learning and Smart Contracts to give end-users the assurance they will be paid quickly and automatically when adverse weather causes losses.