ADB Prepares Over US$1.3bn in Loans & Aid for Cambodia for 2021-2023

• 29 April 2021
• Local News
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The Asian Development Bank (ADB) has prepared a total of over US$1.3 billion in loans and grant aid for Cambodia to support the country’s economic development and recovery from the COVID-19 pandemic.

According to an ADB report released on 28 April, of the total lending pipeline for 2021-2023, US$1.35 billion is in form of concessional loans while another US$32.4 million is in grant aids.

ADB is also currently implementing US$2.1 billion of investment projects in Cambodia. In 2020, ADB committed $477 million in sovereign loans and grants and catalysed an additional $281.3 million through co-financing for Cambodia.

In the same report, the ADB also forecasts that the Cambodian economy will grow by 4.% this year and 5.5% by 2022. The industrial sector is expected to grow 7.1% in 2021 and 7.0% in 2022, while the agricultural sector is expected to rise by 1.3% in 2021 and 1.2% in 2022.

Services will recover more slowly, expanding by 3.3% in 2021 and 6.2% in 2022. In addition, the real estate and construction sectors are also expected to recover from last year’s contraction. (Read more)

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