ADB helps Cambodia promote economic recovery

At the signing ceremony (Photo: https://www.khmertimeskh.com/)

Hanoi (VNA) - The Asian Development Bank (ADB) on December 8 signed agreements to provide 332 million USD for Cambodia to support the Southeast Asian nation in responding to COVID-19, developing its financial sector and urban infrastructure, and improving road network.

Cambodian Minister of Economy and Finance Aun Pornmoniroth and ADB acting country director for Cambodia Anthony Gill signed the loan and grant agreements for Greater Mekong Subregion (GMS) Health Security project, Livable Cities Investment project, Road Network Improvement project in the second phase, and Inclusive Financial Sector Development programme.

Gill said that as Cambodia's long-standing development partner, ADB is committed to supporting the country's economic competitiveness and inclusive development.

The GMS Health Security project is aimed at improving laboratory services and infection prevention control at 81 provincial and district hospitals across Cambodia, while the Livable Cities Investment project will help provide better wastewater and solid waste management services to more than 140,000 residents in Bavet, Kampot, and Poipet cities.

The second phase of the Road Network Improvement project will rehabilitate 48 kilometers of national and provincial roads in Prey Veng and Kandal to boost economic development along the GMS Southern Economic Corridor.

The Financial Sector Development programme will help the Cambodian government implement reforms to boost financial stability, and upgrade financial sector infrastructure./.