Phnom Penh (FN), Nov. 1 – The Asian Development Bank (ADB) has granted a total of USD 3.36 billion to Cambodia, with USD 2.86 billion as concessional loans and USD 498 million in grants.
The announcement was made at the signing of a financing agreement for two programs totaling USD 90 million, including the Inclusive Financial Sector Development Program (Subprogram 2) and the Third Rural Water Supply and Sanitation Services Sector Development Program.
"ADB has granted a total of USD 3.36 billion to Cambodia, including the two signed agreement today. About USD 2.86 billion loan is for implementing 112 programs and USD 498 million grant is for the implementation of 57 projects / programs. This shows ADB's strong commitment in strengthening partnership with the Royal Government of Cambodia,” said Cambodia’s Deputy Prime Minister and Minister for Economy and Finance Aun Pornmoniroth, according to the press release that Fresh News received on Friday.
ADB's mission is to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, ADB made commitments of new loans and grants amounting to USD 21.6 billion.