Cambodia Receives US$43m Boost from AIIB to Expand Cross-Border Animal Trade

• 30 September 2023
• Local News
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The Cambodian government and the Asian Infrastructure Investment Bank (AIIB) have solidified their commitment to fostering cross-border animal trade and elevating the animal value chain infrastructure in Cambodia. This strategic partnership is marked by a co-financing agreement worth US$43 million, aimed at catalysing sustainable growth and development.

The agreement was formally inked during the 8th Annual Meeting of the Board of Governors of the AIIB, held on 25-26 September 2023, in Sharm el-Sheikh, Egypt. Under the overarching theme of “Sustainable Growth in a Challenging World,” the partners came together to address pressing regional needs.

At its core, the project is designed to achieve three key objectives. Firstly, it seeks to enhance animal production and husbandry practices, prioritising quality and hygiene standards. Secondly, the initiative places a strong emphasis on fortifying animal and human health safety, with a focus on preventing infectious diseases. Lastly, it aims to stimulate cross-border animal trade among the nations of the Greater Mekong Subregion, encompassing Cambodia, Laos, Vietnam, Thailand, and China.

The rollout of this project will span six strategically chosen provinces and capitals, including Phnom Penh, Kampong Cham, Oddar Meanchey, Prey Veng, Siem Reap, and Takeo.

Of the total funding, US$33 million will be provided through concessional financing from the AIIB, further supplemented by US$10 million in grants from the Pandemic Prevention, Preparedness, and Response Facility Trust Fund.

Noteworthy is the collaborative nature of this initiative, with the Asian Development Bank (ADB) and AIIB jointly financing the project, pooling resources for a total budget of US$128.78 million. Within this, the ADB contributes US$62.9 million, while the Cambodian Government’s commitment stands at US$22.88 million.

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