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

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Cambodia , ADB , New Partnership


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