Tuesday, 19 February 2008

Cambodia to get 71.8 mln usd grant for reforms - ADB

18 Feb 2008

MUMBAI (Thomson Financial) - The Asian Development Bank (ADB) said it will provide a 71.8 mln usd grant and loan package for Cambodia to improve secondary education, support farmers living around the Tonle Sap lake, foster financial system reform, and rehabilitate major roads throughout the country.

This includes a 27.1 mln usd grant to improve the quality of secondary education and a 20 mln usd assistance package for farmers. The bank said it is also providing an 11.7 mln usd assistance package from its concessional Asian Development Fund to support market-oriented financial system reforms.

The package also includes a 7 mln usd loan to support the rehabilitation of a 15 kilometre stretch of the Southern Coastal Corridor, which runs along the Gulf of Thailand from Bangkok to Nam Cam, Vietnam.

It also includes an additional 6 mln usd loan to help maintain 950 km of roads managed by the Ministry of Public Works and Transport.

The overall value of these five projects is about 115 mln usd, including a 12.8 mln usd grant from the Australian government and an additional 30.5 mln usd contribution from the Cambodian government.

No comments: