The Asian Development Bank (ADB) said on Tuesday that it will invest $403 million in Cambodia in 2024.
“This year marks a significant milestone in our partnership with Cambodia, with the approval of $403 million in loans and grants under the framework of our new country partnership strategy for 2024-2028,” ADB Country Director for Cambodia Jyotsana Varma said in a news release.
“From strengthening vital infrastructure to enhancing climate resilience and human capital development, these projects will support Cambodia’s continued progress toward a prosperous, inclusive, and green future,” she added.
Varma said ADB is also committed to fostering an enabling environment for the private sector, including enhancing trade and competitiveness, driving sustainable economic growth, and creating opportunities for all.
The news release was issued after Varma and Cambodian Deputy Prime Minister and Minister for Economy and Finance Aun Pornmoniroth signed concessional loan and grant agreements for five development projects in the Southeast Asian country. Xinhua
