Multilateral development assistance

The International Monetary Fund (IMF) Managing Director Christine Lagarde said Tuesday that Cambodia needs to invest more in education and physical infrastructure in order to lay the foundation for future success. While there has been good progress, Cambodia is still being held back by low ...

The World Bank recently ranked Cambodia 184th out of 189 countries for ease of starting a business, but you wouldn’t have known it at Phnom Penh’s recent Startup Weekend. Pitches for Cambodia’s first commercial organic chicken farm and for an app to connect tuk-tuk drivers to ...

The International Monetary Fund (IMF) Managing Director Christine Lagarde pledged Monday to continue providing technical assistance to Cambodia for financial and fiscal reforms. Speaking during a meeting with Cambodian Economy and Finance Minister Aun Porn Moniroth, Lagarde hailed Cambodia for sound macroeconomic management and fruitful cooperation ...

Asian Development Bank (ADB) seeks cooperation with Cambodia’s Anti-Corruption Unit (ACU) to fight against corruption in projects that ADB funds. In a meeting Saturday between Nuon Sothimon, ACU’s department chief of juridical affairs and Lorraine Wang-Reyes, ADB’s principal integrity specialist, they discussed cooperation in combating ...

nternational Monetary Fund (IMF) managing director Christine Lagarde will visit Cambodia next week as part of an Asia tour that will also include stops in South Korea and Burma, according to an IMF spokesman. Ms. Lagarde will meet with Cambodian government officials, university students, investors and ...

The Asian Development Bank (ADB) is providing emergency humanitarian assistance of 3 million U.S. dollars to help Cambodia recover from devastating floods that have affected 1.7 million people and caused an estimated 1 billion U.S. dollars in damage, the Bank said in a statement on ...

Growth in tourism is the key driver that is pushing up the value of Cambodia’s service sector, according to the Asian Development Bank report released last week. But to reach its full potential the country still needs to harness resources and tackle the problems that are ...

The International Monetary Fund (IMF) on Friday said it expects Cambodia’s economy to grow by 7 percent this year, fueled mostly by the garment, tourism and construction sectors, though risks such as extreme weather and labor market instabilities could cause growth to fluctuate. The IMF also ...

Cambodia is benefiting from a steadily growing service sector, but it needs to clear a number of obstacles to harness the sector’s potential, said a new Asian Development Bank (ADB) report released on Tuesday. The report, entitled Developing the Service Sector as an Engine of Growth ...

Orix Corp., Japan’s top leasing company, has agreed to buy a 6% stake in Cambodia’s largest bank by assets, Acleda Bank PLC, according to people close to the matter. It would be the first investment by a major Japanese financial institution in the Southeast Asian country, ...

After repeatedly equivocating about whether it has lifted a 2011 freeze on new lending to Cambodia in response to the government’s forced evictions of families in Phnom Penh, the World Bank has said that the suspension is still firmly in place. “The World Bank has not ...

The World Health Organization (WHO) is requesting that $15 million be allocated to Cambodia from a new $100 million grant to stop the spread of resistance to the best available drugs currently used to fight malaria. Eva Christophel, the WHO’s regional malaria adviser in Manila, said ...

The aid sector needs more transparency to ensure that the public knows exactly where and how money is being spent, a consortium of NGOs said Tuesday. Tek Vannara, deputy executive director of the NGO Forum, said at a workshop in Phnom Penh that while the Council ...

Some 50 representatives of Phnom Penh’s embattled Boeng Kak community on Monday marched to the offices of the European Union and World Bank to request that the international bodies send observers to the upcoming Supreme Court hearing of anti-eviction activist Yorm Bopha on November 22. Ms. ...

When the extent of flood damage becomes clear, the Asian Development Bank may lower its economic growth forecast for Cambodia to reflect the severity of the aftermath, a senior official with agency’s local office said yesterday. “It is possible that we will have to revise downward ...

The first vice president of the National Committee for Disaster Management (NCDM) on Monday blamed some of the deaths in this year’s floods on “careless” mothers. “Maybe the mothers are careless, maybe they don’t pay much attention to their children, so they drown,” NCDM First Vice ...

Cambodia appears unlikely to meet its target of becoming a high middle-income nation by 2030 and years of gains it has made reducing poverty could be erased by even a modest shock to the economy, according to the latest World Bank data. World Bank senior country ...

Opposition leader Sam Rainsy has asked the Asian Development Bank to suspend funding to Cambodia, whose government he says was not formed legally following the July elections. In a letter to ADB President Takehiko Nakao, Sam Rainsy, president of the Cambodia National Rescue Party, said the ...

Cambodia’s factories are moving away from producing the most basic clothing items and diversifying to manufacture more intricate products for international buyers. As the garment sector has grown over the past decade, most garment factories have stuck to producing items such as T-shirts and jeans due ...

While the opposition party steps up its efforts to persuade the international community to cut ties with a government it says was formed by a “constitutional coup”, lawyers and analysts yesterday questioned whether the party’s reasoning has any legal basis. In a letter sent to the ...

Senior CPP members selected nominees for the National Assembly’s nine permanent committees behind closed doors on Tuesday, while the opposition CNRP, which has continued to boycott the Assembly over July’s disputed election, urged some of Cambodia’s foreign donors to immediately sever ties with the government ...

The United States has pledged 20 million U.S. dollars over the next three years to the United Nations World Food Program (WFP) to carry out school feeding program in Cambodia, said a WFP press release on Tuesday. The statement said the donation, made by the U.S. ...

Cambodia’s GDP growth was projected to reach 7 percent in equivalent to 15.65 billion U.S. dollars in 2013 despite a challenging global economic environment, the World Bank said Monday. Overall macroeconomic outlook remains positive, having sustained agricultural growth, continued strong performance of the tourism sector, a ...

Cambodia suffered far fewer natural disasters than either Vietnam or Thailand over the last decade but twice as many as Laos, the World Bank said Monday. Data published in the annual World Development Report also showed that the incidence of natural hazards in Cambodia in between ...