The FINANCIAL — The Asian Development Bank (ADB) and the Government of Cambodia on October 7 signed loan agreements and additional financing totaling $125 million for four projects to foster improvements to public service delivery and enhance access to quality education.
The agreements were signed by Senior Minister and Minister of Economy and Finance, Aun Pornmoniroth and Deputy Director General of ADB’s Southeast Asia Department, Noriko Ogawa. “These three programs and an additional financing to an ongoing project in Rural Water Supply and Sanitation will bring tangible benefits for the people of Cambodia,” said Samiuela Tukuafu, Country Director of ADB in Cambodia. “Public service delivery and the management of public revenue and expenditure will improve, as will the quality of upper secondary education and access to improved rural water supply and sanitation.”
Loans totaling $65 million will finance subprograms of the Strengthening Public Financial Management Program and the Decentralized Public Service and Financial Management Program. The Strengthening Public Financial Management Program supports implementation of the government’s Public Financial Management Program which promotes effective and efficient management of public expenditure and revenue. The Decentralized Public Service and Financial Management Program will improve public service delivery through support for efficient and accountable subnational administrations, according to ADB.
A $45 million loan for the Upper Secondary Education Sector Development Program and $1 million of technical assistance will finance improved access, quality and relevance of upper secondary education. Institutional capacity to plan, manage and deliver quality education will be enhanced.
Additional finance of $15 million will be provided for the Second Rural Water Supply and Sanitation Sector Project. Additionally, $2 million of technical assistance will be provided by the Japan Fund for Poverty Reduction and a $1.5 million grant from the Bill & Melinda Gates Foundation. The funds will expand access to improved rural water supply and sanitation and improve the health of rural residents in six provinces around the Tonle Sap Lake.