Gov’t Inks Concessional Loan Deals Worth US$780 Million in H1 2023

• 11 September 2023
• Local News
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In a testament to Cambodia’s continued economic development and collaboration with international partners, the government has successfully secured concessional loan agreements amounting to a total of US$787.5 million in the first half of this year. This impressive figure represents a substantial year-on-year increase of 24%.

According to a report released by the Ministry of Economy and Finance in early September, these newly established concessional loans constitute 35 percent of the legally permitted ceiling, which stands at SDR 1,700 million.

Of these agreements, 51% have been forged with bilateral development partners, while the remaining 49% have been inked with multilateral development partners. The primary objective of these loans is to provide vital funding for public investment projects within priority sectors. These initiatives are aimed at promoting sustained long-term economic growth and enhancing overall economic productivity and production, as stated by the Ministry.

As of the conclusion of the second quarter of 2023, when considering existing debt, the government’s total public debt stock stands at an amount of US$10.72 billion. This steady commitment to financial cooperation with international institutions underscores Cambodia’s dedication to fostering sustainable economic development and progress.

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