ADB allocates $500 million for 3 years development plan in Cambodia

The Asian Development Bank (ADB) on Thursday announced a soft-loan package of 488 million U.S. dollars for a new Country Partnership Strategy for 2011-2013 in Cambodia.

The ADB’s resource investment plan is a strong focus on agriculture and natural resources, water supply and municipal development, transport, education, finance, public sector management, energy, and trade facilitation in the Great Mekong Sub- region, Peter Brimble, senior economist of ADB to Cambodia, said during a press briefing on Thursday afternoon.

Of the soft-loan package, 127 million U.S. dollars is allocated for 2011, and 209 million U.S. dollars and 152 million U.S. dollars for 2012 and 2013 respectively, he added.

“The new strategy sets out an ambitious roadmap to reach out to Cambodia’s poor with an integrated approach to rural development,” he said.

It would help the country develop a vibrant private sector, diversify the economy, and integrate Cambodia into regional markets, said Peter.

Source: Xin Hua


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