ADB Signs $250 Million Loan Deal
Cambodia and the Asian Development Bank (ADB) yesterday signed a new loan agreement for $250 million to finance projects in key development areas, according to a statement from the Ministry of Economy and Finance.
The loans will be used to finance the Second Upper Secondary Education Sector Development Programme, which aims to improve teaching quality and institutional capacity in upper secondary education. The funds will also support the Second Urban Environmental Management in the Tonle Sap Basin project, focusing on wastewater management in the cities of Battambang, Serei Saophoan, and Stueng Saen.
To improve urban services and enhance regional economic connectivity, the funds will also be directed towards the Fourth Greater Mekong Subregion Corridor Towns Development project. This project aims to finance key urban environmental infrastructure and enhance institutional effectiveness.
Finally, the Second Greater Mekong Subregion Tourism Infrastructure for Inclusive Growth Project will be included in the scheme. The goal is to boost the image of Kep and Sihanoukville by improving transport infrastructure, urban environmental services, and their capacity to sustainably manage tourism growth.