ADB reaches three project loan agreements with Cambodia.
PHNOM PENH: The ADB reached three project loan agreements with Cambodian government to provide support for road network improvement, provincial water supply and sanitation, and smallholder farmers development in Tonle Sap.
The project will support national efforts to make the transport sector more efficient, safe, and disaster-resilient and further enhance the capacity of the Ministry of Public Works and Transport to better manage road assets through improved planning of operations and maintenance. Peoples' awareness and observation of road safety and regulations is expected to improve.
The $70 million Road Network Improvement Project will improve 147-kilometer of road for all-weather conditions within the provinces of Prey Veng, Siem Reap, and Svay Rieng. The loan agreements were signed by Aun Pornmoniroth, Senior Minister, Ministry of Economy and Finance of Cambodia, and Samiuela Tukuafu, ADB Country Director for Cambodia.
Its additional financing for the Tonle Sap Poverty Reduction and Smallholder Development Project will further improve agriculture productivity and diversify Tonle Sap Basin's economy to benefit smallholder farmers in Banteay Meanchey, Kampong Cham, Kampong Thom, Siem Reap, and Tboung Khmum. The additional funds will also include development initiatives that reflect the needs of local communities and address issues of low productivity, weak value chains, and high vulnerability to climate change. ADB will provide $50 million for the project, along with a $10 million concessional loan from the International Fund for Agricultural Development, and $6 million equivalent from the Government of Cambodia.