ADB to pour US$880 million into Cambodia
The Asian Development Bank (ADB) has said it plans to provide an US$880 million fund for social-economic development projects in Cambodia from 2016 to 2018.
Accordingly, US$728 million in preferential loans will be sourced from the bank, and US$153 million from ADB’s development partners.
The bank will also assist the country with a technical support packet worth US$25 million.
The decision was the result of a recent meeting between Cambodian Minister of Economy and Finance Aun Pon Muniroth and James Nugent, Director General of ADB’s Southeast Asia Department.
In recent years, ADB, the World Bank and the International Monetary Fund have been major development partners in Cambodia, helping underpin the country’s growth.
