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

• 25 December 2024
• Local News
• 1725 Views

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 new Partnership Strategy for Cambodia for 2024-2028.

The projects include:

1. Education: USD 80 million was allocated to strengthen secondary education systems, expand access to higher education, and construct resilient school infrastructure.
2. Gender-Based Violence Response: USD 10 million will be dedicated to advancing Cambodia’s national response mechanisms to create a gender-based violence-free society by 2030.
3. Business Environment: USD 50 million to foster a competitive investment climate by reducing trade barriers and simplifying regulatory frameworks.
4. Water Resources Management: USD 88 million will be invested in implementing integrated water resources management in the Tonle Sap Basin, a critical area for sustainable agriculture and livelihoods.
5. Agricultural Irrigation: USD 85 million for improving climate resilience and enhancing irrigation systems across four provinces, supporting productivity and food security.
6. Rural Water Supply and Sanitation: USD 90 million will be used to build climate-resilient water supply and sanitation facilities, benefitting rural communities and improving public health.

These initiatives are expected to drive sustainable growth, tackle climate challenges, and address social issues while fostering economic resilience.

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