Phnom penh: The World Bank (WB) has reaffirmed its commitment to supporting Cambodia's long-term development ambitions through a new cooperation framework covering 2025-2029, according to a statement released by the Ministry of Economy and Finance on Mar. 18.

According to Agence Kampuchea Presse, the commitment was made during a meeting at the Ministry on Mar. 16 between H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, and Mr. Carlos Felipe Jaramillo, Vice President for East Asia and the Pacific at the World Bank, who was on an official mission to Cambodia.

The WB also signaled ongoing financial support under its International Development Association framework, alongside efforts to mobilize additional funding. Priority areas include education and skills development, transport infrastructure, and reforms to enhance the investment climate and trade facilitation, Mr. Carlos Felipe Jaramillo said.

For his part, H.E. Dr. Aun Pornmoniroth expressed appreciation for the WB's longstanding support in advancing Cambodia's socio-economic development. He outlined the country's current macroeconomic conditions and highlighted key challenges, including global economic uncertainty, shifting trade policies, geopolitical tensions, and rising oil prices linked to conflict in the Middle East.

Both sides underscored the importance of strengthening cooperation to ensure the effective implementation of key reforms and projects aimed at promoting sustainable growth and improving living standards across Cambodia.