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Logo of Phnom Penh Post newspaper Phnom Penh Post - More loans from ADB are signed

More loans from ADB are signed

A nother $45 million in soft loans will be coming into Cambodia from the Asian Development

Bank.

One is a Basic Skills Development loan of $25 million to help with technical and

vocational education and training, including the training of health workers. The

other is a Rural Infrastructure Project loan of $20 million for rebuilding farm to

market roads, markets and water supply.

The bank also signed a Private Sector Framework Agreement with Cambodia, which means

it would provide loans to investors interested in investing in Cambodia on commercial

terms without government guarantees.

Noritada Morita, the ADB's director of programs west department, said that given

the magnitude of investment needed to rebuild Cambodia, there is a critical need

to augment the public sector resources that are provided through official aid channels,

with private investments.

The new loans signed Nov. 2 in Manila by Cambodian Finance Minister Keat Chhon bring

ADB's loan exposure in Cambodia to $142 million.Terms of the loans are 40 years at

1 percent interest with a grace period of ten years. The ADB has also given technical

assistance grants of $25 million.

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