More World Bank Funds for Cambodia

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The Kingdom’s Ministry of Economy and Finance and the World Bank yesterday signed a $130 million new financing agreement to improve the livelihoods of rural Cambodians, increase health care coverage, manage fisheries and improve roads, according to a World Bank press release.
 
The press statement said the $130 million financing was approved by the World Bank’s executive board of directors last month and focuses on poverty reduction and bettering the lives of poor and vulnerable Cambodians in the country cooperation strategy set out in the new Cambodia -World Bank Group Country Engagement Note (CEN).
 
Of the $130 million, $30 million will be allocated to the Health Equity Fund to increase health care coverage for the poor, $15 million for the Mekong Integrated Water Resources Program to improve fisheries in the Mekong River basin, $60 million will be for the management of road infrastructure and another $25 million for socio-economic development projects.
 
Economy and Finance Minister Aun Pornmoniroth said at the signing ceremony that the new financing agreement was a sign of the good partnership between the Cambodia government and the World Bank.
 
“I am also very pleased and impressed by the country’s achievements in having sustained economic growth over the past decade. Poverty is declining and we have met most of our Millennium Development Goals,” said Mr.Pornmoniroth.
 
Ulrich Zachau, country director of the World Bank for Southeast Asia, said: “Having better roads, supporting poor villagers who depend on agricultural livelihoods and fishing and access to better health care, are high priorities for Cambodia.
 
“The four projects signed today all contribute to improving the lives of poor Cambodians, and we are glad to support them.  We look forward to working together closely and in strong partnership with Cambodia under the new Country Engagement Note, for the benefit of all Cambodians.”

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