The Asian Development Bank (ADB) yesterday announced a three-year pipeline of $525 million to boost growth in Cambodia, as it launched its new three-year rolling Country Operations Business Plan (COBP) for 2013-2015.
The so-called indicative assistance pipeline includes concessional loans of $491 million for national and regional projects and programs and $34.78 million in grants for national and regional technical assistance. The program includes $260.3 million in co-financing from external sources.
It will support 14 national and five regional projects, including projects to commercialise rice production, improve provincial and rural roads, and rehabilitate irrigation systems.
The annually updated COBP shows how the ADB will support the government for the next three years, according to ADB country director for Cambodia, Eric Sidgwick. “The Country Operations Business Plan lays out the areas that we will emphasise as we work to reduce poverty, stimulate more efficient and inclusive growth, and address major environmental challenges,” he said.
The COBP for 2013-2015 in Cambodia focuses on strengthening rural-urban linkages, urbanisation in secondary towns, economic corridor development, climate change and private sector development. It is consistent with the ADB Country Partnership Strategy for Cambodia 2011-2013. “The idea is to ensure that our projects are consistent with the Country Partnership Strategy and with evolving national development priorities,” ADB Senior Country Economist Peter Brimble said.