ADB, AFD provide over US$380m to develop six major sectors in Cambodia

• 23 December 2022
• Local News
• 1379 Views

The Asian Development Bank (ADB) and the French Agency for Development (AFD) have officially provided US$381.45 million in financing to Cambodia to develop six key sectors.

The agreement was signed between the two partners and the Ministry of Economy and Finance on 22 December.

The funding for the development of 6 projects and programs includes:

_Energy Sector Development Program: In order to support Cambodia in the transition to clean energy to promote economic growth to become a green economy and reduce carbon emissions. (Read more)

_Sustainable Marine and Coastal Fisheries Project: Aims to develop maritime institutions and infrastructure to enhance marine fisheries productivity. (Read more)

_Cross-border animal health project and the promotion of animal value chains: There are two objectives: 1. To increase productivity, trade quality, diversify and expand animal husbandry and processing of livestock products, and secondly, to improve livestock health and expand Infrastructure, value chain, and environmentally friendly. (Read more)

­­_Border Health Project in the Greater Mekong Subregion: Aims to improve access to health services for people living along the border and some cross-border migrants. (Read more)

_Trade and Competitiveness Development Program: Aims to promote trade efficiency and competitiveness in Cambodia. (Read more)

_Science and Technology Project for Secondary Education: Aims to improve the quality and efficiency of upper secondary education by focusing on three factors, namely, first, expanding the scope of standardized and comprehensive higher education. Equity, second, strengthening the quality of education in science, technology, engineering, and mathematics, and third, strengthening institutions in planning, management, and teaching.

ADB has provided a total of US$ 4.77 billion in co-financing, of which US$ 4.20 billion has been for fitness loans for 130 programs and grants. A total of approximately US$ 568.45 million was for the implementation of 69 program projects.

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