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

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.

MOST VIEWED

  • Hun Sen: Stop Russia sanctions

    Prime Minister Hun Sen said sanctions against Russia as a result of its military offensive in Ukraine should be stopped as they have produced no tangible results, and predicted that a global food crisis would ensue in 2023 as a consequence. Speaking to an audience at

  • Chinese tourists 2.0 – Coming anytime soon?

    Regional tourism is grappling with the absence of the prolific travellers and big spenders – the Chinese tourists. Cambodia, which has welcomed over two million Chinese tourists before Covid-19, is reeling from the economic loss despite being the first to fully open last November ‘To put

  • PM reflects on shoe throwing: Free speech or act of violence?

    Prime Minister Hun Sen on May 17 questioned whether a man who threw a shoe at him while he was in the US was exercising freedom of expression or if it was an act of hostility. Hun Sen was referring to an incident last week when

  • Siem Reap’s Angkor Botanical Garden opens

    The Angkor Botanical Garden was officially opened on May 19 with free entry for both local and international visitors for the first six weeks. The garden was established on a nearly 15ha plot of land in Siem Reap. “After the first six weeks, Angkor Botanical Garden

  • Pub Street on the cards for Battambang

    The Battambang Provincial Authority has announced that it is considering establishing a Pub Street in the area around the heritage buildings in Battambang town in a bid to attract more tourists. Battambang provincial governor Sok Lou told The Post that the establishment of a Pub

  • Hun Sen: Don’t react to hostility

    Prime Minister Hun Sen urged tolerance and thanked members of the Cambodian diaspora for not reacting to the hostility on display towards him by others while he was in the US to attend the May 12-13 ASEAN-US Special Summit in Washington, DC. In an audio