The Asian Development Bank (ADB) on June 12 inaugurated its new resident mission, following the recent launch of ADB’s latest country partnership strategy for Cambodia for the period 2024-2028.
The inauguration ceremony was presided over by Cambodian Deputy Prime Minister and Minister of Economy and Finance H.E. Dr. Aun Pornmoniroth and ADB President Mr. Masatsugu Asakawa.
‘Today is not just a celebration of a new and modern office, but a recognition of the deep bonds and shared development goals between ADB and Cambodia,’ said Mr. Asakawa. ‘This inauguration follows the launch of the new country partnership strategy for 2024-2028, which is tailored to Cambodia’s development needs by prioritising economic diversification, human capital development, and climate resilience.’
According to an ADB’s press release issued this afternoon, the new office, designed with climate-friendly materials and energy-efficient systems, serves as a modern and collaborative workspace. It features several traditional cultural m
otifs from Cambodia, reflecting the country’s rich heritage. This move underlines ADB’s commitment to sustainability and its dedication to providing a conducive working environment for its staff.
‘ADB has been a long-standing and trusted development partner of Cambodia, contributing significantly to the country’s development,’ said H.E. Dr. Aun Pornmoniroth. ‘This inauguration coincides with the launch of the new country partnership strategy for 2024-2028, under which the ADB has committed approximately US$1.26 billion to support the Royal Government of Cambodia, further cementing our commitment to sustainable development and economic growth in Cambodia.”
As of Dec. 31, 2023, ADB has committed 339 public sector loans, grants, and technical assistance totaling US$4.8 billion to Cambodia, said the press release, adding that ADB’s active sovereign projects in the country include 34 loans and 8 grants worth US$1.92 billion.
Cambodia joined ADB in 1966 as a founding member, followed by the implementation of its
first ADB-supported project in 1970.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members-49 from the region.
Source: Agence Kampuchea Presse
