Multilateral development assistance
Asian Development Bank (ADB)
ADB has a long road ahead after big flood
A breached flood protection dyke near Prey Ven city that, had it burst during the disastrous 2011 flooding, would have added a further 30,000 to the almost 52,000 households evacuated, is one project nearing completion in Cambodia’s Flood Damage Emergency Reconstruction Project. But the Asian Development ...
ASEAN needs more funding
ASEAN needs to seek more funds from development partners to develop infrastructure and connectivity in order to narrow the gap among member states, said Prime Minister Hun Sen yesterday at the opening ceremony of the 44th ASEAN Economic Ministers meeting. The Premier said strengthening the connectivity ...
http://www.phnompenhpost.com/index.php/2012082858311/Business/asean-needs-more-funding.html
Rail freight services begin
Railway freight services between Phnom Penh and Touk Meas commune, in Kampot province’s Banteay Meas district, the location of a Siam Cement factory about 40 kilometres north of Kampot town, began yesterday, finally putting the Toll Royal Railways concession on an earning basis. According to Toll Royal Railways ...
Railway Family Payouts Could Be Increased
The government and the Asian Development Bank (ADB) will start drafting a new resettlement plan this month that could improve the compensation on offer for some of the roughly 200 Phnom Penh families losing their homes because of rehabilitation of the country’s railway network in ...
Bank Would Back Firm to Take Over Rail Project
The Asian Development Bank (ADB), which has so far contributed $84 million toward the rehabilitation of Cambodia’s dilapidated railway network, said yesterday it would support a deal to drop the current railway operator if it means the new concessionaire would foot the $60 to $100 million needed ...
Families Told to Prepare to Vacate Land Needed for Railway Station
Government officials met with more than 200 Phnom Penh families on Friday to lay out the state’s case for ownership of their land and the compensation they can expect when they are evicted from their homes situated along the city’s railway tracks. The $142 million project ...
ADB maps Kingdom's needs
The private sector and industry professionals were engaged yesterday in the first consultation with the Asian Development Bank (ADB) and the government in an effort to understand the factors affecting Cambodia’s economy, and ultimately determined that human capital, infrastructure, innovation and regulatory issues as the key areas ...
National Rail Project Heralded by Eviction Notices in Poipet
Poipet City authorities have given dozens of families living along a section of railway slated for renovation 10 days to move or face forcible eviction. Poipet City Deputy Governor An Vanak said that the eviction notice was sent Monday to about 40 families, only eight of ...
ASEAN Infrastructure Fund could be within Cambodia's reach
Access to the region’s largest collective financial resource, the ASEAN Infrastructure Fund, could be easier than expected for Cambodia, according to an Asian Development Bank economist. Initiated in May, the fund is expected to lend up to US$4 billion and leverage up to $13 billion for ...
http://www.phnompenhpost.com/index.php/2012071057314/Business/regional-fund-cambodia-adb.html
Railway Evictees Tussle With High Debt Levels
Adding to a growing body of research into the flaws of Cambodia’s $142 million railway rehabilitation project, a report published yesterday said soaring debt levels are crippling families forcibly relocated by the project. In the report by land rights organization Sahmakum Teang Tnaut (STT), researchers tracked ...
Cambodian rail delays, cost blowouts: leaked report
Australia’s Fairfax media has obtained a leaked official report into a troubled and controversial Cambodian rail project being funded by AusAID and the Asian Development Bank. The report outlines poor construction, botched surveys leading to the evictions of families ...
China may fund Cambodia-Vietnam rail
Cambodia was in discussions with the Chinese government on funding for a 250-kilometre stretch of rail line between Phnom Penh and Vietnam, in what Cambodian officials yesterday called a move away from a “complicated” Asian Development Bank loan. Va Sim Sorya, director general at the Ministry ...
http://www.phnompenhpost.com/index.php/2012061356758/Business/china-to-fund-cambodia-rail.html
Australian Gov’t Ordered Railway Investigation
The Australian government yesterday said it has been aware of poor working conditions and inappropriate surveying methods used on Cambodia’s railway rehabilitation project since February and had ordered that the project’s partners investigate the matters. “The Australian Government was alerted to possible concerns about workplace health ...
Construction Woes Plague Railway Project
The rehabilitation of Cambodia’s dilapidated railway network has encountered delays due to poor construction work and inappropriate surveying methods when making plans to lay down tracks, according to a draft review of the ongoing $140 million project conducted by the Asian Development Bank (ADB) and ...
Study to determine cost to finish railway
With funds almost exhausted on the $140 million rehabilitation of Cambodia’s railway network, the government and the Asian Development Bank (ADB) have decided to conduct a study to determine how much more money is needed to complete the project, a government consultant said yesterday. Paul Power, ...
Moody’s to review Cambodia's banks for downgrades
Moody’s Investor Services will review ACLEDA Bank and Cambodian Public Bank (Campu Bank) for potential downgrades, according to a release from the rating agency on Wednesday. But the move comes primarily as a response to the global financial crisis and the rating agency’s attempt to realign sovereign ratings with ...
http://www.phnompenhpost.com/index.php/2012042055668/Business/moodys-eyes-kingdom-banks.html
Bank Forecasts Drop in GDP Growth to 6.5%
The Asian Development Bank (ADB) yesterday revised its prediction for economic growth in Cambodia down to 6.5 percent as it warned that weakening demand from markets in the US and Europe could affect exports leaving the country. The ADB’s biannual outlook report for 2012 also said ...
Donors Face Mounting Pressure Over Rail Project
A group of NGOs on Friday called on Australia and the Asian Development Bank (ADB) to suspend work and funding for a government-led project to rehabilitate the country’s railway system should authorities in Poipet City follow through on an eviction notice delivered to 22 families ...
Violence Breaks Out at Railway Relocation Site
Three villagers who were evicted last year to make way for the rehabilitation of Cambodia’s railway—part of a $142 million project paid for by the Asian Development Bank (ADB) and AusAid—were hospitalized early Friday morning after they were attacked with rocks and sticks at a ...
Kingdom inks $60.3m loan for flood relief
The Ministry of Economy and Finance yesterday signed a US$60.3 million loan package with Asian Development Bank to aid in reconstruction efforts after the Kingdom last year suffered its worst floods in a decade. ...
Families Evicted by Railway Project File Complaint With Bank
More than 150 residents evicted from Phnom Penh’s Russei Keo district to make way for a railway rehabilitation project filed a complaint yesterday with the Asian Development Bank (ADB) office in Phnom Penh, one of two principal financiers for the project, saying their relocation site ...
Railway evictees seek ADB aid
Families forced to move by the rehabilitation of the Phnom Penh stretch of the national railway petitioned the Asian Development Bank yesterday for help with their livelihoods. About 50 people gathered outside the ADB’s office to submit a petition representing more than 160 families relocated to ...
Worker Shortage Biggest Threat to Economy
A shortage of workers, particularly those with skills, is the biggest threat to economic growth in Cambodia today, Sok Chenda, secretary general of the Council for the Development of Cambodia (CDC), said yesterday. Speaking at the Greater Mekong Subregion Investment Policy Forum organized by the Organization ...
Bank Backs Displaced Families’ Compensation
The Asian Development Bank (ADB), one of the two major financiers of the rehabilitation of Cambodia’s railways, yesterday rejected criticism that they were providing insufficient resettlement packages to residents displaced by the project. On Friday, the ADB released a cost study that showed that the compensation ...