ADB offers Cambodia new $1B loan package

The Asian Development Bank has committed more than $1 billion in new loans to Cambodia over the next three years to help the country invest in infrastructure, education and other priorities, government officials announced on October 5. Finance Minister Aun Porn Moniroth announced the $1.09 billion loan package, to last Cambodia through 2019, at an event marking the bank’s 50th anniversary in Phnom Penh. It comes on top of the $2.65 billion the bank has lent Cambodia since the early 1990s. The minister said the specific projects the new money will fund had yet to be decided. “When the projects and programs are prepared, we will sign deals for the actual projects and programs each year. So we need to work more comprehensively, and the actual amount of each loan will depend on each project and program.”

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