Economy: ADB approves USD 50 million loan for Cambodia to boost trade

The Asian Development Bank (ADB) has approved a 50 million USD policy-based loan to support Cambodia's efforts to make its business environment more investment-friendly, upgrade businesses towards higher competitiveness, and ease trade barriers.

The Asian Development Bank (ADB) has approved a 50 million USD policy-based loan to support Cambodia's efforts to make its business environment more investment-friendly, upgrade businesses towards higher competitiveness, and ease trade barriers

The bank has confirmed that this is the second sub-programme of the ongoing Trade and Competitiveness Programme. Its aim is to reinforce the government's efforts to leverage private sector investments in order to achieve higher, inclusive and sustainable growth, which will in turn improve the lives and livelihoods of its citizens.

ADB Country Director for Cambodia Jyotsana Varma stated that the programme reinforces ADB's ongoing commitment to advancing Cambodia's economic potential and creating a more robust enabling ecosystem for business growth, which will lead to increased investment, job creation and sustainable economic growth.

The programme places a particular emphasis on micro, small and medium-sized enterprises (MSMEs), which form the backbone of the economy. Their growth is crucial to drive competitiveness.

By offering targeted incentives, the bank aims to give firms the tools they need to diversify, integrate digital solutions, and increase productivity. This programme also seeks to facilitate smoother and more efficient cross-border trade by improving regulatory frameworks, streamlining procedures, and reducing barriers to trade. This will help Cambodia to better position itself to participate in regional and global markets.