The Asian Development Bank (ADB) this morning signed three project loan agreements with the Government of Cambodia to provide support for road network improvement, provincial water supply and sanitation and smallholder farmers development in the Tonle Sap, according to an ADB's press release.
H.E. Aun Porn Moniroth, Cambodian Senior Minister and Minister of Economy and Finance, and Mr. Samiuela Tukuafu, Country Director of ADB's Cambodia Resident Mission, were the signatories.
The US$70 million Road Network Improvement Project will improve 147-kilometre of road for all weather conditions within the provinces of Prey Veng, Siem Reap, and Svay Rieng.
The project will support national efforts to make the transport sector more efficient, safe, and disaster resilient and further enhance the capacity of the Ministry of Public Works and Transport to better manage its road assets through better planning of operations and maintenance. Peoples' awareness and observation of road safety and regulations is expected to improve.
The Provincial Water Supply and Sanitation Project will help expand and improve urban water supply and sanitation services and will benefit more than 209,000 people in Battambang, Kampong Cham, Siem Reap, and Sihanoukville. It will include the construction of water and waste water treatment plants, piped water connections and sewer pipelines.
The ADB loan, in the amount of US$50 million, will be complemented with a US$10 million grant from the Government of Japan's Fund for the Joint Crediting Mechanism, a Euros 40 million (US$43.5 million) loan co-financing from Agence Francaise de Developpement (AFD), and a Euros 4.67 million (US$5.09 million), grant from the European Union's Asia Investment Facility, and Government of Cambodia's investment funds in the amount of US$10.54 million.
The Tonle Sap Poverty Reduction and Smallholder Development Project-Additional Financing will further improve agriculture productivity and diversify Tonle Sap Basin's economy to benefit smallholder farmers in Banteay Meanchey, Kampong Cham, Kampong Thom, Siem Reap, and Thbong Khmum. The additional finance will also include development initiatives that reflect the needs of local communities and address issues of low productivity, weak value chains, and high vulnerability to climate change. The project will be financed with US$50 million from ADB, a US$10 million concessional loan from the International Fund for Agricultural Development, and US$6 million equivalent from the Government of Cambodia.
Source: Agency Kampuchea Press