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ADB talks Cambodia funding priorities

ADB talks Cambodia funding priorities

THE Asian Development Bank (ADB) emphasised five priority sectors in its three year, US$500 million Country Partnership Strategy announced yesterday.

The bank will focus specifically on lending to agriculture, education, finance, water supply and transport in Cambodia over the next three years, officials said yesterday.

“In order to reach our objectives we have identified five priority sectors … in order to promote inclusive income growth and social development,” ADB Senior Country Economist Peter Brimble.

The bank intends to allocate $377 million on 12 projects in its priority sectors, with a further $111 million to other projects, in 2011 through 2013, ADB figures show.

Improving Cambodia’s transport linkages with other countries in the Greater Mekong Subregion was a main focus of the bank.

“We will improve cross-border transport and trade facilitation along the Southern Economic Corridor linking Bangkok to Ho Chi Minh City through Phnom Penh to promote market connectivity, trade and tourism activities within the GMS,” said Peter Brimble.

Underpinning its activities was a focus on improved public sector management, such as public financial management, decentralisation and deconcentration, and public sector capacity development, it said in a statement.

The strategy received government endorsement in April and May, and final endorsement earlier this month.

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