PHNOM PENH: The Ministry of Economy and Finance and the Asian Development Bank (ADB) today signed concessional loan and grant agreements for five programmes.
Including a previously inked programme, ADB’s investments in Cambodia for 2024 total US$403 million, aiming to enhance secondary education; address gender-based violence (GBV); boost trade and competitiveness; support integrated water resources management; and expand climate-resilient and inclusive rural water supply, sanitation, and hygiene (WASH) facilities in Cambodia, said an ADB’s news release made public this afternoon.
Deputy Prime Minister and Minister for Economy and Finance H.E. Dr. Aun Pornmoniroth and ADB Country Director for Cambodia Ms. Jyotsana Varma signed the agreements at an official ceremony in Phnom Penh.
“This year marks a significant milestone in our partnership with Cambodia, with the approval of US$403 million in loans and grants under the framework of our new country partnership strategy for 2024–2028,” said Ms. Varma. “From strengthening vital infrastructure to enhancing climate resilience and human capital development, these projects will support Cambodia’s continued progress toward a prosperous, inclusive, and green future. ADB is also committed to fostering an enabling environment for the private sector, including enhancing trade and competitiveness, to drive sustainable economic growth and create opportunities for all. ADB remains steadfast in its partnership with Cambodia to deliver transformative outcomes that create lasting benefits for its people.”
According to ADB, the US$90 million loan (signed earlier this year) for the Rural Water Supply, Sanitation, and Hygiene Improvement Sector Development Programme will improve and expand climate-resilient and inclusive rural water supply, sanitation, and hygiene facilities for 88,000 households in 400 villages in 50 communes across nine provinces in Cambodia.
The Secondary Education for Human Capital Competitiveness Project, an US$80 million loan, will improve the country’s secondary education, spotlighting 21st century skills like critical and creative thinking, inclusive teaching for boys and girls, and expanding pathways to post-secondary education. It will expand the number of inclusive climate-resilient school facilities to address classroom overcrowding and expand access to quality upper secondary education.
The US$10 million grant for the Strengthening Country Systems for Prevention and Response to GBV Project will help meet Cambodia’s target of zero gender-based violence by 2030. It focuses on strengthening legal and institutional frameworks, updating the country’s legislation on domestic violence; improving service delivery by strengthening the quality and accessibility of response services and refurbishing shelters for survivors, especially in rural areas; and leveraging digital solutions in adolescent school-based and community-based programmes to promote prevention.
The second subprogramme of the ongoing Trade and Competitiveness Programme, a US$50 million policy-based loan, aims to foster an investment-friendly business environment, improve competitiveness, and ease trade barriers. It reinforces the Cambodian government’s efforts to leverage private sector investments to achieve higher and sustainable growth.
Targeting river basins in Battambang and Pursat provinces in Tonle Sap basin, the US$88 million loan for the Integrated Water Resources Management Project will strengthen integrated, climate adaptive, and eco-friendly water resources management, modernise irrigation systems, and reduce flood risks.
Lastly, the additional financing for the Irrigated Agriculture Improvement Project, with US$85 million in loans, will enhance water delivery efficiency and climate resilience across four irrigation systems in Battambang, Kampong Cham, Kampong Thom, and Takeo provinces and share best practices with farmers to enhance climate resilience and water delivery efficiency of irrigation infrastructure. The project will also support operational capacity development for Cambodia’s National Water Resources Management Data Center and associated National Water Resources Information System and preparatory work and design for future investments in flood and drought management.
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 69 members—49 from the region.