ADB To Provide Nearly US$1 Billion Loan to Cambodia

Through Country Operation Business Plan-COBP (2020-2022), ADB is planning to provide Cambodia nearly US$1 billion as loan to help achieve status as an upper-middle income country in 2030 and high-income country in 2050.

The update was shared in a meeting on COBP (2020-2022) co-chaired by Secretary of State at the Ministry of Economy and Finance H.E. Vongsey Vissoth and Ms. Sunniya Durrani-Jamal, ADB's Country Director here in Phnom Penh on May 29.

Of the total amount, some US$921.5 million is from ADB's COBP 2020-2022, and the rest from the Royal Government's contribution and co-financing from other development partners.

Among that financing amount, US$250.4 million will be used for areas of agriculture, natural resources and rural development, US$100 million for education, US$100 million for energy sector, US$80 million for transport and communications, US$110 million for public works, US$80 million for finance, US$230.2 million for clean water supply, city infrastructure and services.

Up to now, ADB has provided nearly US$3.2 billion cooperation financing to Cambodia, including some US$2.7 billion as loan, and US$490 million as grant aid.

Source: Agency Kampuchea Press