ADB offers $30Million Loan to Cambodia

Ven Rathavong / Khmer Times No Comments Share:
Asian Development Bank (ADB) headquarters in Manila. (Photo: AFP)

PHNOM PENH, September 27, (Khmer Times) – The Asian Development Bank (ABD) is extending a $30 million loan to Cambodia to raise the quality of technical and vocational education and training (TVET), to create more job opportunities for women and the poor.
 
“The TVET system remains in its infancy and needs reform and additional investment to address gaps in access, quality and institutional capacity in order to make a sustained contribution to the development of a skilled workforce,” said ADB Principal Education Specialist, Norman LaRocque. 

“The program will overhaul the existing system to make it more responsive to labor market needs and help provide disadvantaged groups with more opportunities for formal training.”

In a statement, the ADB said that many Cambodians, especially the poor and women, cannot take part in the formal TVET system due to low educational attainment and the grade 9 entry requirement for formal training. 

The program will provide stipends to individuals from poor households identified under a government household support scheme, and to women’s dormitories. A gender action plan establishing quotas for females receiving training stipends will also help increase female enrollment and retention in formal TVET programs.

The ADB added that to strengthen governance and management, TVET institute directors will get training and other support for planning, budgeting and other skills. Start-up finance will also be provided to allow TVET institutes to offer courses in construction, auto mechanics, information and communications technology and business at levels 2 to 4 under the Cambodian Qualifications Framework.

The press release stated that ADB’s assistance, from its concessional Asian Development Fund, includes project and policy-based loans, while the Government of Cambodia will provide cash and in-kind contributions totaling $2.6 million, for a total investment of $32.6 million. The full program will run for almost 5 years, with an estimated completion date of December 2019.

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