World Bank

The government will spend some $4 million on the Land Allocation for Social and Economic Development Project Phase II (Lased II) to benefit almost 600 families in Prasat Balang district’s Doung commune in Kampong Thom province. The land allocation is aimed at alleviating poverty in ...

The Ministry of Public Works and Transport yesterday announced that the renovation of National Road 4, which connects the capital with Sihanoukville in the south, will begin early next year. The ministry said bidding for the project will start in September. National Road 4 is one ...

The World Bank will approve the disbursement of $1 billion to Cambodia to develop priority sectors in the next five years, according to the Ministry of Economy and Finance. The announcement was made by a World Bank delegation during a recent meeting with Acting Minister of ...

The value of Cambodian exports to the EU is expected to decline between $513-$654 million per annum if the country’s tariff-free access is withdrawn, according to a World Bank report released on Monday. The World Bank’s assessment – made in a report named Cambodia Economic ...

Cambodia’s economy remains in a “robust” condition but economic growth is projected to slow slightly this year compared to last, mainly due to weaker than expected external demand, according to a World Bank report released on Wednesday. The bank forecast the Cambodian economy to grow ...

Between 1995 and 2017 Cambodia grew at an average rate of 7.7%; gdp per person rose from $321 in 1994 to $1,137 in 2017, after accounting for inflation. Foreign money has flooded in and Cambodia’s economy, which war and the Khmers Rouges had destroyed, has ...

Research from Cambodian urban NGO Sahmakum Teang Tnaut (STT) has found that Phnom Penh is failing a large number of its inhabitants by falling far below minimum UN standards for open public spaces. SST warns that the situation “will have negative consequences” unless planners begin ...

Cambodia’s global logistics performance ranking dropped 25 spots to 98th this year after achieving a commendable 73rd in 2016, the World Bank’s Logistics Performance Index (LPI) said, but local experts questioned the lack of clarity on the ranking slip. ...

The Cambodian government and the World Bank yesterday signed two agreements in Phnom Penh to implement two key investment projects worth a total of $200 million. The Higher Education Institutions Capacity Improvement Project (HEICP) and Second Road Asset Management Project (RAMP II) were approved by ...

The World Bank is to lend Cambodia $110 million interest-free to restore the key national highway linking Phnom Penh to the country’s only deep-sea port. The loan was approved last week by the bank’s board of executive directors under the Road Asset Management Project II. ...

Cambodia’s economic health remains strong at about 6 or 7 percent annual growth, but the country needs to harness its young population and invest in training and skills to ensure this trend continues, the World Bank said. ...

The economy will grow at a rate of 6.9 percent in 2018, according to the latest report from the World Bank. Other international financial institutions have issued similar forecasts this month, with the Asian Development Bank (ADB) and the International Monetary Fund (IMF) putting national ...

Cambodia should continue to see steady economic growth at about 7 percent this year despite potential investor caution that could arise ahead of July’s national election, officials from the Ministry of Economy and Finance (MEF) said on Wednesday. ...

The Transport Ministry said yesterday it has asked the World Bank for a $110 million loan to upgrade National Road 4. Speaking after a signing ceremony with a Chinese company to repair two other national roads, Transport Minister Sun Chanthol said the ministry and the World ...

The economy will grow by 6.9 percent this year, according to projections from the National Bank of Cambodia (NBC), spurred by the robust performance of the tourism, construction and garment sectors. ...

Rapid urbanisation in Phnom Penh in the past decade has created jobs and reduced poverty, but better urban planning, management and infrastructure are needed to avoid further sprawl, congestion and pollution, according to a new World Bank report released yesterday. ...

Cambodia may have reduced its levels of extreme poverty to the single-digits, but its middle class is nearly nonexistent and approximately half of its population remains highly susceptible to economic shocks, according to a World Bank report released yesterday. ...

The government plans to borrow an additional 1 billion through Special Drawing Rights (SDR), or $1.4 billion, to meet its planned budget for next year, bringing the total national debt to $7.6 billion by the end of 2018 compared to the current level of $6.2 ...

Despite better than predicted overall growth for global economies, the World Bank has slightly downgraded its 2017 forecast for Cambodia due to wage and price concerns in the Kingdom’s the garment industry as well as uncertainty surrounding next year’s national election. ...

As the urban population continues to grow at rate of 2.6 percent per year, improving public transport and coming up with detailed urbanisation plans should be top priorities for authorities in Phnom Penh, as well as for other urban centres, including Sihanoukville and Siem Reap, ...

As Cambodia continues its upward trajectory towards becoming a lower-middle-income country, it will face even greater challenges in reducing high levels of poverty as the Kingdom loses its preferential trade privileges and donor funding dries up, according to a new World Bank report. ...

The World Bank will disburse some $540 million from 2018 to 2021 to finance economic development in Cambodia with a focus on supporting the implementation of the government’s Industrial Development Policy as well as other socio-economic projects. ...

A World Bank subsidiary will soon start training 2,000 farmers contracted to supply a leading Cambodian rice exporter on how to meet an international farming standard. ...

Boeng Kak supporters on Tuesday said they were dismayed at the World Bank’s announcement of a new $100 million loan to the Cambodian government amid ongoing harassment and jailings of land rights activists. ...