ADB commits $1.26 billion to support Cambodia's sustainable development and economic growth

Asian Development Bank (ADB) President Masatsugu Asakawa joined Cambodian Minister of Economy and Finance, H.E. Aun Pornmoniroth, to inaugurate ADB's new Resident Mission on Wednesday, following the recent launch of ADB's latest Country Partnership Strategy for Cambodia for 2024-2028.

Asian Development Bank (ADB) President Masatsugu Asakawa

"Today is not only a celebration of a new and modern office, but also a recognition of the deep ties and shared development goals between ADB and Cambodia. This inauguration follows the launch of the new Country Partnership Strategy for 2024-2028, which is tailored to Cambodia's development needs by prioritising economic diversification, human capital development, and climate resilience," said Asakawa.

The new office, designed with climate-friendly materials and energy-efficient systems, serves as a modern and collaborative workspace. It features several traditional Cambodian cultural motifs, reflecting the country's rich heritage. The move underscores ADB's commitment to sustainability and its dedication to providing a conducive working environment for its staff.

"ADB has been a long-standing and trusted development partner of Cambodia, contributing significantly to the country's development. This inauguration coincides with the launch of the new Country Partnership Strategy for 2024-2028, under which ADB has committed approximately USD 1.26 billion to support the Royal Government of Cambodia, further cementing our commitment to Cambodia's sustainable development and economic growth," said Minister Aun Pornmoniroth.

As of 31 December 2023, ADB has committed 339 public sector loans, grants, and technical assistance to Cambodia totalling USD 4.8 billion. ADB's active sovereign projects in the country include 34 loans and 8 grants worth USD 1.92 billion. Cambodia joined ADB as a founding member in 1966 and implemented its first ADB-supported project in 1970.