ADB provides over $59 million for Cambodia

ADB Headquarter in Manila, Philippines.

PHNOM PENH (Xinhua) - The Asian Development Bank (ADB) will provide $59.4 million to Cambodia for its infrastructure improvement, trade crossing border and deals on the global financial crisis, an official said today.

"The budget will be used for improving the irrigation system, agriculture products and public infrastructures," Ieng Sophalet, spokesman to Prime Minister Hun Sen told reporters after the talks between Prime Minister Hun Sen and Vice-President of ADB Lawrence Greenwoods at the Cambodian Foreign Ministry.

"It also will facilitate the trade crossing border among the Great Mekong Sub-Region and deals on the global crisis," he added.

"The budget project will be implemented for the next two years from now," he said, adding that it is an additional budget from the ADB after it agreed to provide 194 million U.S. dollars for the next two years.

According to a statement from the ADB, resources are provided in the form of concessional loans and grants to low-income DMCs with limited debt repayment capacity for developing member countries.