Asian Development Bank (ADB)

The Asian Development Bank (ADB) on Wednesday signed a 75 million U.S. dollars loan with Cambodia’s largest bank, Acleda Bank, to address the rising financing requirements of micro, small and medium-sized enterprises (MSME) in the country. The agreement was inked between Christine Engstrom, director in ADB’s ...

Families forced to leave their homes to make way for a railway rehabilitation project funded by the Asian Development Bank and the Australian government have told the bank that a draft compensation plan it has drawn up to remedy their situation is inadequate. On Monday, Inclusive ...

Rights groups are calling out the Australian government for being “curiously absent” from discussions about further compensation for thousands of families affected by a railway rehabilitation project that it co-funded with the Asian Development Bank. The bank has borne the brunt of criticism over botched resettlement ...

The Asian Development Bank (ADB) on Wednesday insisted that the Cambodian government has not turned down any of its recommendations for helping thousands of families hurt by a bank-funded project, claiming that talks over how to compensate and support the families were still underway. Last week, ...

The government has agreed to review its resettlement agreement with families relocated from railways as part of an Asian Development Bank (ADB)-funded rehabilitation project, but has refused a recommendation to set up a debt-relief scheme for the evictees, according to an action plan released by ...

The International Monetary Fund (IMF) on Monday forecast Cambodia’s economy will grow by 7.2 per cent this year, 0.2 percentage point higher than last year. ...

As much as $320 million is being lost annually as a result of Cambodia’s reliance on the US dollar, while a longstanding mistrust in the riel means there is less of the local currency in circulation, restricting the national bank’s ability to respond in times ...

Cambodia’s tax department is under-resourced and understaffed, thereby hindering its ability to generate revenue, according to an Asian Development Bank (ADB) analysis released earlier this month. The analysis, which took into account survey results from 22 tax revenue bodies across Asia between 2012 and 2013, paints ...

The Asian Development Bank announced Wednesday that it will provide $81.7 million, including a $6.7 million grant from Australia, in additional financing to help Cambodia recover from catastrophic floods in late 2013. The flooding affected 1.7 million people and caused an estimated $356 million in damage. ...

More than two dozen NGOs have written to the head of the Asian Development Bank demanding the immediate release of a draft plan the ADB has drawn up to help Cambodian families evicted to make way for a bank-funded railway rehabilitation project. They also want ...

Families evicted for a rail project funded by the Asian Development Bank (ADB) threatened to demonstrate if the bank does not show them its plan to improve their living conditions within one week. About 1,000 families who built homes over the country’s long-neglected train tracks were ...

In 2011, Oeun Phirun took out a $450 loan from the Asian Development Bank, using half to buy a used motorbike and spending the rest on a small flock of ducks and chickens he hoped to raise. His family and about 1,000 others have been evicted ...

Toll Royal Railway, the private operator of Cambodia’s train service, has no system in place to regularly inspect the state of its tracks, and lacks qualified inspectors to check either tracks or bridges, according to a recent safety audit of the firm’s Phnom Penh operations. The ...

The Asian Development Bank on Tuesday said it expects Cambodia’s economic growth to slow slightly in 2014. In its annual “Asian Development Outlook,” the bank said it expects to see a drop in the rate from about 7.2 percent last year to 7 percent this year ...

Following a scathing report from its internal watchdog about the resettlement of thousands of Cambodian families affected by a national railway rehabilitation project that it is funding, the Asian Development Bank has agreed with the government on an action plan for further compensation, it said ...

The number of Cambodian rural households with access to latrines increased from 23 to 33 per cent in 2013, a Ministry of Rural Development report released yesterday says. Chreay Pom, director of the ministry’s rural health care department, said that last year, the ministry constructed about ...

Cambodia is making steady headway towards its goal of providing universal clean-water access. “The 2013 population census shows that the percentage of people who now have clean water sources has climbed to 49 per cent. We will be able to achieve the 2015 Millennium Development Goal ...

The offices of commune officials along the Tonle Sap basin will soon be solar-powered as part of a poverty-reduction project backed by the Asian Development Bank. Some 123 off-the-grid commune council offices in Banteay Meanchey, Siem Reap, Kampong Thom and Kampong Cham provinces will be fitted ...

“From my view, I don’t want to have it, but it is development, we can’t stop them,” says Srekor’s village chief, Leang Saroeurn. Cambodia’s impressive yearly GDP growth rates of 7 percent for the last decade have come, in part, through a ravenous consumption of the countries ...

Ministry of Finance said that Asian Development Bank (ADB) would provide USD773 million in loan for implementation of economic development projects from 2014-2016 in Cambodia. Of the loan, USD573 million would be provided by ADB, while another USD200 million would be lended by another partner through ...

In 2009, a railway project official arrived at 45-year-old Ry Preng’s home in Por Sen Chey district and spray-painted “1.042” in red on the side of his house. He wasn’t sure what it meant, but was told that at some point he would need to ...

Newly approved plans by the Asian Development Bank (ADB) to fix mistakes it made on a $143 million railway project appear to water down recommendations proposed by the Bank’s own review panel, and could impose the costs of the plan on the very families who ...

In a rare admission, the Asian Development Bank has surprisingly acknowledged its own shortcomings following a controversial railway rehabilitation project in Cambodia that sparked complaints from thousands of displaced local residents affected by forced resettlements, insufficient compensations and neglect of their human rights. The concerns were confirmed by the Compliance ...

In May of 2010, just four days after their family was resettled in Battambang province, two children, accompanied by their sister-in-law, walked to a pond. Stories differ as to why they were there. Rights groups say they went to bathe and collect water. Police claim ...