ADB to provide Cambodia 31.7 mln usd for financial system, infrastructure
MUMBAI (Thomson Financial) - The Asian Development Bank said it is providing a 10 mln usd loan and a 1.7 mln usd grant to assist Cambodia in the development of a sound, efficient and market-oriented financial system as part of efforts to sustain economic growth and eradicate poverty.
The ADB said the programme will support the Cambodian governments continued efforts to strengthen the financial sector by promoting legal and regulatory reforms, capacity building, improved disclosure standards and financial transparency, and the establishment of key financial infrastructure.
In a separate release, ADB said it is providing 20 mln usd to develop and upgrade infrastructure and improve livelihood opportunities in Tonle Sap, the most impoverished region in Cambodia.
The Tonle Sap Lowlands Rural Development project will be funded by a 10.1 mln usd loan and 9.9 mln usd grant from the ADB while Cambodia will provide 3 mln usd with the project beneficiaries contributing 1 mln usd to complete funding for the project, the bank said.
The bank said the project will improve rural infrastructure to move products of the region to market, distribute agricultural inputs and improve farm yields by providing new irrigation facilities and improving existing ones.
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