News

Last month, Cambodia’s nascent yet rapidly expanding banking sector saw the new arrival of Phillip Bank through the acquisition of Hwang DBS Commercial Bank by Singapore’s Philip Capital in a $40 million deal. The number of banks in the country has more than doubled since 2005, ...

Prime Minister Hun Sen yesterday defended his government, saying its reputation for corruption is undeserved, laying blame on the private sector for initiating the bribe process and calling out international development partners for applying double standards. Speaking at the Eighth Regional Conference of Anti-Corruption Intiative for ...

The government has finished calculating the additional compensation it will pay out to some of the families forced to move for a $143 million railway rehabilitation project being funded mostly by the Asian Development Bank (ADB), according to a new report. The report, released this week ...

Cambodian Prime Minister Hun Sen said Wednesday that countries and economies in Asia and the Pacific region needed to work together to fight against corruption. ...

About 50 villagers who live near railway lines in Phnom Penh gathered outside the Asian Development Bank yesterday morning to again demand more detailed information about what will happen to them during forthcoming phases of a bank-funded railway rehabilitation project. ...

Cambodia stands to be the biggest beneficiary, in terms of GDP growth, for the first decade following ASEAN Economic Integration in 2015, according to a study released publicly today by the International Labour Organisation (ILO). The ILO’s 160-page report says Cambodia could see a 19.9 per ...

The Asian Development Bank (ADB) will provide nine poor rural provinces in Cambodia with year-round access to markets and social services through a 118 million U.S. dollars project to provide a safer, cost-effective rural road network, the bank said in a press statement on Monday. ...

Phnom Penh families who face losing a part of their land to a railway rehabilitation project being funded primarily by the Asian Development Bank (ADB) protested in front of the bank’s country headquarters Monday over what they say has been a lack of transparency about ...

Most of the infrastructure required for enhanced connectivity in the Greater Mekong Subregion has been put in place, particularly the transport links that form the base of the envisaged economic corridors, Bindu Lohani, vice president of the Asian Development Bank, said yesterday. He made the remark ...

Phnom Penh’s first solar-powered building looks for all the world like a cube of colored Lego blocks dropped in a factory lot on the city’s industrial outskirts. Covered in some 1,350 solar panels — including large panes of multi-colored solar glass — the three-story building ...

About 60 residents from Phnom Penh and the provinces of Battambang, Banteay Meanchey and Preah Sihanouk who lost land or are in danger of losing land due to a railroad development project funded by the Asian Development Bank (ADB) protested outside its offices Thursday morning ...

A Battambang bridge project isn’t to blame for blocking a river and preventing water from reaching parched rice fields, an Asian Development Bank investigation concluded yesterday. Bavel district farmers accused the bank-funded construction project of choking the river since construction began in December, leaving their recently ...

After blocking a river for months, a construction project’s recently installed water pipes are delivering relief to only some of Battambang’s drought-stricken fields. More than 400 farmers in Bavel district blamed the Asian Development Bank-funded bridge for choking the river since construction began in December, leaving ...

Foreign and domestic investment in construction projects skyrocketed in the first four months of the year, government data suggests. Ministry of Land Management and Urban Planning data revealed last week shows total investment in new construction projects reached more than $1.4 billion at the end of ...

With barely a drop of rain falling on their parched fields, Battambang farmers are pleading with a construction company to stop blockading the local river so their recently planted crops don’t dry out. The Asian Development Bank-funded bridge connecting Battambang and Banteay Meanchey has blocked the ...

Cambodia says it hopes to have road connectivity to Vietnam and Thailand by 2015. The connection would be part of Asean integration, a process where Cambodia lags behind its neighbors. Six countries of the Mekong River delta have worked toward linking by road since 1998, in an ...

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 ...

Foreign currency deposits grew briskly during the first four months of the year, a sign that public confidence in Cambodia’s financial institutions is high despite the uncertainty after last year’s disputed national election, bankers said this week. Cheam Teang, executive vice president of Acleda Bank Plc., ...

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, ...

Taxpayers are now able to pay their dues at Acleda Bank as the government seeks to outsource its tax revenue collection to the private sector, the head of Cambodia’s largest bank said yesterday. In Channy, president and CEO of Acleda bank, told the Post that the ...

The government is refusing to compensate up to 1,000 families forced to wait for income restoration measures after being relocated from their homes for an Asian Development Bank-funded railway rehabilitation project, a previously unreleased action plan from the ADB reveals. The ADB Management Action Plan, released ...

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. ...