The World Bank agreed to provide $90 million in financing to help Cambodia improve the quality of higher education and research.
The World Bank’s statement from April 26 announced that its board of executive directors approved $90 million in financing to support Cambodia’s efforts to improve the quality of higher education and research, broaden the access to higher education for disadvantaged students, and improve governance in the sector.
The Higher Education Institutions Capacity Improvement Project aims to achieve these goals over the next six years. This project will focus on science, technology, engineering, mathematics – otherwise known as STEM – as well as agriculture.
It will expand school facilities in Battambang and Svay Rieng provinces, build dormitories for disadvantaged students in the capital, provide research funds, strengthen quality assurance and information systems and work with international partners to improve the curriculum and methodology of the priority subject areas.
Aun Pornmoniroth, the Minister of Economy and Finance, thanked the World Bank for its support saying, “This project will help us establish a holistic strategy for higher education development and enable Cambodian graduates to meet the rapid demands and increasing opportunities – for mobility and technology transfer – of the ASEAN Economic Community and beyond.”
Inguna Dobraja, the World Bank’s Country Manager for Cambodia, said that building high-quality research capacity and preparing a critical mass of highly-skilled graduates of tertiary education is a priority for both Cambodia and the Bank. These actions can help Cambodia upgrade its human capital and strengthen the effectiveness of higher education.