Cambodia Receives $1B In Loans From ADB

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The Asian Development Bank (ADB) has pledged more than $1 billion in new loans to Cambodia, to be used over the next three years in helping the country invest in infrastructure, education and other priorities, according to government officials.

Finance Minister Aun Porn Moniroth said decisions regarding what programs the money will fund have not been made yet. However, Education Minister Chuon Naron stressed the need to invest much of the new money in schools.

“The ADB funding will focus on high school education,” he said, “to respond to the demand for the skills that our youth need. If we export garments, primary school knowledge is enough to be a garment worker. But if we want to export electronic products, workers need at least a quality secondary education.”

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