PHNOM PENH: The Asian Development Bank (ADB) and the Ministry of Economy and Finance have signed loan and grant agreements for six projects totaling $361.4 million in education, health, energy, trade, competitiveness, livestock, and marine fisheries production.
This brings the total amount of loans and grants this year to US$576.3 million, of which US$163.7 million in financing from other development partners, according to a press release from the ADB.
The six projects signed today will aid various facets of socioeconomic development in Cambodia in accordance with Rectangular Strategy IV of the government. According to ADB Country Director for Cambodia, Ms. Jyotsana Varma,
She added, “These projects will strengthen Cambodia’s health and education systems to increase human capital, address climate change through mitigation and adaptation solutions, and enhance the country’s competitiveness.”
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.