December 6, 2022

ADB Agrees Another US$190 Million Financing for Cambodia

Asian Development Bank (ADB) has decided to provide US$190 million worth financing for two development projects in Cambodia.

The financing agreements were inked by Senior Minister and Minister of Economy and Finance H.E. Aun Pornmoniroth and Mr. Hideaki Iwasaki, Acting Country Director of Cambodia Resident Mission of ADB here in Phnom Penh recently.

Of the funded projects, one focuses on promoting climate-friendly agribusiness as well as increasing rural household incomes � an alignment with Cambodia's current agriculture and industrial development strategies and policies.

Another project supports improvement of Cambodia's rural physical infrastructure, wherein some 359-kilometre roads in Kampong Cham, Thbong Khmum, Prey Veng, Svay Rieng, and Kratie provinces will be constructed and rehabilitated.

According to H.E. Aun Pornmoniroth, ADB by far has provided financing equivalent to US$2.95 billion to Cambodia � about US$2.46 billion are concessional loans for 101 projects and US$487 million are grants for 51 development projects.

Source: Agency Kampuchea Press