Cambodia and the Asian Development Bank (ADB) yesterday signed a new loan agreement for $250 million to finance projects in key development areas, according to a statement from the Ministry of Economy and Finance.
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The loans will be used to finance the Second Upper Secondary Education Sector Development Programme, which aims to improve teaching quality and institutional capacity in upper secondary education.
The money will also be used for the Second Urban Environmental Management in the Tonle Sap Basin project, which focuses on wastewater management in the cities of Battambang, Serei Saophoan and Stueng Saen.
To improve urban services and enhance regional economic connectivity in the region, the funds will also be used for the Fourth Greater Mekong Subregion Corridor Towns Development project. It seeks to finance key urban environmental infrastructure and enhance institutional effectiveness.
Finally, the Second Greater Mekong Subregion Tourism Infrastructure for Inclusive Growth Project will also be included in the scheme. Its goal is to boost the image of Kep and Sihanoukville by improving transport infrastructure, urban environmental services, and their capacity to sustainably manage tourism growth.