ADB Commits US$1.26bn to Support Cambodia’s Sustainable Development

• Sommana Yan
• 13 June 2024
• Uncategorized
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The Asian Development Bank (ADB) has unveiled its latest country partnership strategy for Cambodia, committing approximately US$1.26 billion to support the nation’s sustainable development and economic growth. This announcement was made during the inauguration of ADB’s new office on 12 June 2024, presided over by Deputy Prime Minister and Minister of Economy and Finance HE Aun Pornmoniroth.

Speaking at the ceremony, HE Aun Pornmoniroth emphasised ADB’s role as a long-standing and trusted development partner for Cambodia. “This inauguration coincides with the launch of the new country partnership strategy for 2024-2028, under which ADB has committed approximately US$1.26 billion to support the Cambodian government, further cementing our commitment to sustainable development and economic growth in Cambodia,” he stated.

The newly inaugurated ADB office is designed with climate-friendly materials and energy-efficient systems, featuring traditional cultural motifs that reflect Cambodia’s rich heritage, creating a modern and collaborative workspace.

As of 31 December 2023, ADB has committed 339 public sector loans, grants, and technical assistance totalling US$4.8 billion to Cambodia. Currently, ADB’s active sovereign projects in the country include 34 loans and 8 grants worth US$1.92 billion.

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