ADB provides US$361.4 million to Cambodia to support various sectors

PHNOM PENH, Dec 24 (Xinhua): The Asian Development Bank (ADB) has signed up to provide Cambodia loan and grant for six projects worth US$361.4 million, said an ADB's press release.

The projects cover education, health, energy, trade competitiveness, livestock, and marine fisheries production.

The agreements were inked here by Cambodia's Deputy Prime Minister and Minister for Economy and Finance Aun Pornmoniroth and ADB country director for Cambodia Jyotsana Varma.

With this, the total loans and grants from ADB to Cambodia this year stand at US$576.3 million, of which USS$163.7 million dollars are co-financing from other development partners, the press release said.

Together these projects will boost science, technology, engineering, and mathematics (STEM) education in Cambodia, expand health care coverage along border areas, accelerate the country's clean energy transition, strengthen trade and competitiveness, and support climate-smart livestock and marine fisheries production, it added.

"The six projects signed today will support various aspects of Cambodia's socio-economic development in line with the government's Rectangular Strategy IV," Varma said.

"These projects will strengthen Cambodia's health and education systems to boost human capital, address climate change through both mitigation and adaptation solutions, and enhance the country's competitiveness," she added. - Xinhua