Gov’t Plans to Borrow 1.7 billion SDR from Partners for 7 Priority Sectors in 2023

In 2023, Cambodia will borrow 1.7 billion SDR (IMF international reserves that can be converted into cash on demand) from its partners, an increase of 100 million SDR compared to the 2022 budget.

According to the draft law on finance for management 2023, these loans will be used to develop seven key sectors including energy, irrigation, infrastructure, healthcare, education, agriculture, and others.

In 2023, the Cambodian government will also issue a second set of bonds worth US$200 million. US$49 million of which will be used to repay the principal of the bond of 2022, while the rest will be used as the national budget.

- Video Advertisement -

Related Post

Japan Enhances Education Infrastructure in Cambodia with USD 20 Million Investment

In a significant boost to Cambodia’s educational landscape, Japan has announced a generous contribution of nearly USD 20 million to construct new school buildings in the Pursat and Banteay Meanchey provinces. This commitment underscores Japan’s ongoing support for Cambodia’s development efforts, particularly in enhancing access to quality education for its youth. At a recent signing […]

Chinese Company Pledges to Complete Mondulkiri Wind Power Station by 2026

In a significant commitment to renewable energy in Cambodia, HK OASIS Power Energy Development Co., Ltd. has vowed to complete the construction of a 150-megawatt wind power station in Mondulkiri province by 2026. This pledge was made by Mr. Wang Junwei, the company’s representative, during a meeting with HE Chea Vuthy, Secretary General of the […]

Sweden’s Largest Factory Unveiled in Phnom Penh: A New Era for Cambodia’s Economy

In a landmark event on January 17, 2025, Sweden’s prestigious glove manufacturer, HESTRA (Cambodia) Co., Ltd., officially opened the doors to its state-of-the-art factory located in the Royal Phnom Penh Special Economic Zone. The inauguration ceremony was graced by notable figures, including HE Chea Vuthy, Secretary-General of the Investment Committee of Cambodia, and Ms. Anna […]

Chinese Mining Firms Eye Expansion in Cambodia’s Potent Resource Sector

In a promising development for Cambodia’s mining industry, Beijing Endi (Group) Co., Ltd., a prominent mining investment firm based in China, has set its sights on expanding operations in the kingdom. This ambition was underscored during a pivotal meeting on 15 January 2025, between HE Chea Vuthy, Secretary General of the Cambodian Investment Committee, and […]

Japan Grants USD 7.2 Million to Cambodia for Social & Economic Development

The Japanese government has extended a grant of 1,002 million yen, equivalent to USD 7.2 million, to support a range of social and economic development initiatives. The funding was formalized through the signing of the Exchange of Letters and related documents by HE Deputy Prime Minister Prak Sokhon, Minister of Foreign Affairs and International Cooperation, […]

ADB Commits USD 403 Million to Catalyse Cambodia’s Development Across Six Strategic Sectors

The Asian Development Bank (ADB) has approved USD 403 million in loans and grants to support six transformative development projects in Cambodia, focusing on education, gender equality, business, water management, and rural development. This commitment, announced by ADB Country Director Ms. Jyotsana Varma during a signing ceremony on 17 December 2024, aligns with the ADB’s […]