Asian Development Bank launches new country partnership for Cambodia


MANILA (Xinhua): The Asian Development Bank (ADB) on Wednesday said it has launched a new country partnership strategy for Cambodia, spanning the period 2024-2028.

The multilateral lender said the new strategy aims to strengthen pathways for a sustained, inclusive, and resilient Cambodian economy.

"The 5-year strategy focuses on working with the government and other partners to accelerate private-sector-led economic diversification, advance human development, and strengthen climate resilience," the ADB said.

It added that the comprehensive strategy also incorporates crosscutting priorities to address climate change, enhance governance and institutional capacity, improve gender equality, promote digitalization, and deepen regional cooperation and integration.

According to the ADB, the strategy emphasizes prosperity by accelerating economic diversification, recognizing the private sector's pivotal role in driving sustainable growth.

"The key to this approach is enhancing high-quality, climate-resilient infrastructure to attract private sector investments and create an enabling business environment that is particularly beneficial for micro, small, and medium-sized enterprises."

Moreover, the strategy seeks to ensure inclusive access to quality and affordable services, including education, skills development, health care, clean water supply, and sanitation services.

"It also prioritizes the expansion of renewable energy sources and mobilization of concessional climate finance, reassuring our commitment to a greener and more resilient future for Cambodia," the ADB said. - Xinhua

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Cambodia , ADB , New Partnership

   

Next In Aseanplus News

Catholic Church warns public about WhatsApp phishing scams related to Pope’s visit to Singapore
Unbeaten India rout Bangladesh to close in on T20 World Cup semi-finals
PM urges MPs to not to miss Dewan Rakyat sittings
Sporting shocker of the year - Afghanistan stun mighty Australia with 21-run T20 World Cup win
Challenging year but Vietnam central bank says 2024 GDP growth seen meeting 6.0%-6.5% target
MCMC seizes social media user's phone over inappropriate content involving minor
Indonesia and Thailand eye education cooperation boost; many Thais want to further education in Jakarta
Portugal cruise into Euro 2024 knockout stages, Belgium bounce back with brilliant win
It was just unbelievable: Turkiye coach Montella regrets own goal 'bad luck' in Euros defeat to Portugal
Deaths from Indian toxic alcohol rise to more than 50

Others Also Read