POTABLE WATER: PHNOM PENH, Cambodia- ADB to disburse about $90 million for rural water supply development
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The Asian Development Bank and the Ministry of Finance on Wednesday signed two agreements to disburse $89 million to improve rural water supply, sanitation and financial sector development.
A signing ceremony was held in Phnom Penh between ADB country director Sunniya Durrani-Jamal and Finance Minister Aun Pornmoniroth.
The agreements are meant to help finance the Third Rural Water Supply and Sanitation Services Sector Development Program and the Inclusive Financial Sector Development Programme.
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“Those priority areas include human resource development through promoting financial and banking sector development; economic diversifications through promoting financial and banking sector development and private sector development and employment through supporting small and medium-sized enterprises; inclusive and sustainable development through the promotion of agricultural and rural development,” Ms Durrani-Jamal said.
The ADB in a press release said 400,000 people will benefit from the Third Rural Water Supply and Sanitation Services Sector Development Program.
It said the programme aims to construct and rehabilitate 2,500 rural water facilities in at least 400 villages across ten provinces.
It said the Inclusive Financial Sector Development Program will support the government’s implementation of its Rectangular Strategy-Phase IV by developing an efficient and stable financial sector.
“Key interventions include to improve access to finance, particularly for the poor, rural households, and small and medium-sized enterprises,” ADB said. “The programme will also enhance the stability of Cambodia’s financial sector and upgrading financial infrastructure to support the introduction of new financial services and products.”
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Meas Sokdesan, spokesman for the Ministry of Finance, yesterday said the funding of the two projects will help meet the needs of citizens in rural areas so they can have access to clean water and better living standards.
“These grants really benefit rural people who need local development,” Mr Sokdesan said.
Chan Darong, spokesman for the Ministry of Rural Development, could not be reached for comment yesterday.
The ADB has been providing grants to the Kingdom to support its development.
On Friday, it endorsed a new five-year country partnership strategy, laying out its support for the Kingdom’s goal of becoming an upper-middle-income country by 2030.
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Under its 2019–2023 strategy, ADB will provide $1.45 billion in loans, grants, and technical assistance for agriculture and natural resources management, improving urban and rural living conditions and renewable energy infrastructure, and the development of human resources. / Pech Sotheary / Khmer Times
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