The Asian Development Bank (ADB) has said it plans to provide an 880 million USD fund for social-economic development projects in Cambodia from 2016 to 2018.
Phnom Penh (VNA) – The Asian Development Bank (ADB) has said it plans to provide an 880 million USD fund for social-economic development projects in Cambodia from 2016 to 2018.
Accordingly, 728 million USD in preferential loans will be sourced from the bank, and 153 million USD from ADB’s development partners.
The bank will also assist the country with a technical support packet worth 25 million USD.
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.-VNA
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Illustrative photo (Source: VNA)
