Development ties

Cambodia's delegation to the 44th Asian Development Bank annual meeting in Hanoi next week will be led by Ministry of Economy and Finance Secretary General Vongsey Vissoth, according to an ADB spokesperson.

Vietnam Deputy Prime Minister Pham Gia Khiem said in a press release that the meetings would aim to make practical contributions to macroeconomic stability, as well as “mitigating the adverse impacts caused by natural calamities and climate change and fostering long term and sustainable human centred development.”

The May 3 to 6 ADB annual meeting aims to discuss a wide range of topics on the economy, Asian development, and the individual state of the bank’s 67 members, the release said.

The ADB provided some US$95 million in loans and $65.8 million in grants to the Kingdom in 2010, according a statement from last week.

Cambodia joined the bank in 1966. However, the majority of the ADB’s involvement in the Kingdom - nearly $1.4 billion for 55 loans, $255.71 million for 21 grants, and $112 million for technical assistance projects - has come since it resumed operations in Cambodia in 1992.