Cambodia Resident Mission: Activities
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CARM: Supporting Cambodia’s First Ever Green Bond Issuance
On January 19, Portfolio Administration Unit Head at ADB Cambodia Resident Mission (CARM) Anthony Gill represented ADB at the listing ceremony for Cambodia's first private sector green bond issuance. The bond was issued by Golden Tree, a Cambodian property developer. ADB Economic Research and Regional Cooperation Department (ERCD) provided technical assistance in structuring the bond to meet the ASEAN Green Bond Standards and the International Capital Market Association (ICMA) Green Bond Principles. Through OneADB, CARM and ERCD are working closely to promote sustainable finance in Cambodia.
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ADB Trains Cambodia Government Officials on Data Analysis and AI Application
On 10-12 January, ADB and the Cambodia Climate Resilient Rice Commercialization Sector Development Program (Rice-SDP) project trained over 50 geographic information system and data experts from the Ministries of Agriculture, Forestry, Fisheries; Planning; and Land Management, Urban Planning, and Construction, including ADB staff, on the crop yield estimation and design process, and implementation of agriculture and natural resources projects in Cambodia using data analysis and artificial intelligence. In his remarks, Ministry of Economy and Finance’s Secretary of State and Rice-SDP Program Director Seilava Ros stressed the importance of learning and technology dissemination to improve project implementation on-the-ground. CARM Portfolio Administration Unit Head Anthony Gill emphasized the need to empower women farmer groups to explore new technologies to address gaps in crop yield estimation. The training was facilitated by SDTC-AR Principal Natural Resources and Agriculture Specialist Michiko Katagami.
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ADB, Cambodia Signed Loan and Grant Agreements for Six Projects
At an official ceremony in Phnom Penh on 22 December, Cambodia’s Deputy Prime Minister and Minister for Economy and Finance Excellency Aun Pornmoniroth, who is also ADB Governor, and ADB Country Director for Cambodia Ms. Jyotsana Varma signed loan and grant agreements for six projects worth $361.4 million. Together, the projects will boost science, technology, engineering, and mathematics (STEM) education in Cambodia; expand health care coverage along border areas; accelerate the country’s clean energy transition; strengthen trade and competitiveness; and support climate-smart livestock and marine fisheries production. With the newly inked agreements, ADB’s total loans and grants for Cambodia this year are $576.3 million, of which $163.7 million is cofinancing from other development partners.
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ADB to Support Cambodia’s Livestock Health to Enhance Food Security and Climate Resilience
ADB on 12 December 2022 approved a $62.9 million package to help Cambodia enhance food security and promote inclusive economic growth by improving livestock health and value chains, and boosting formal trade of livestock and livestock products. The Greater Mekong Subregion (GMS) Cross-Border Livestock Health and Value Chains Improvement Project will enhance productivity and resilience of the livestock subsector by reducing risks from transboundary animal diseases, zoonoses, and antimicrobial resistance; build up animal health monitoring and service delivery; improve food safety; and promote subregional cooperation on climate-smart livestock production in the GMS.
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ADB to help diversify Cambodia’s economy, boost competitiveness
ADB has approved a $50 million policy-based loan under subprogram 1 of the Trade and Competitiveness Program to help Cambodia diversify its economy and boost the country’s global competitiveness. The program will support Cambodia’s post-COVID-19 economic recovery by supporting government reforms to enhance the investment and business environment; foster the growth of micro, small, and medium-sized enterprises (MSMEs); and improve trade policy and trade facilitation. It will also help Cambodia improve the implementation of regional trade agreements and strengthen coordination on trade facilitation to provide more opportunities for Cambodian businesses to export their goods.
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Ministry, ADB convene Cambodia’s First Commercial Courts Symposium
On 29 November 2022, the Ministry of Justice and ADB held Cambodia’s first-ever Commercial Courts Symposium on operationalizing effective and efficient commercial courts, as part of overall support under ADB Cambodia Resident Mission's Trade and Competitiveness Program and Office of the General Counsel’s Law and Policy Reform Program. The Symposium convened over 120 senior government officials, judges, business leaders and international experts to exchange knowledge about experiences and lessons learned in developing commercial courts around the world. H.E. Chiv Songhak, Secretary of State at the Ministry of Justice remarked on the increase of domestic and international commercial disputes and the need for a specialized commercial court that can handle these disputes quickly, expertly, and fairly. In her welcome remarks, ADB Country Director for Cambodia Jyotsana Varma underlined the importance of a clear, reasonable, and accessible judicial system to attract long-term high-quality investment, and knowledgeable and experienced commercial judges who are vital to a well-functioning economy.
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Vice President Lavasa addresses ASEAN Leaders, meets government and private sector partners, visits projects in Cambodia
At the 2nd ASEAN Global Dialogue in Phnom Penh on 13 November, ADB Vice President Ashok Lavasa highlighted that while the ASEAN region is recovering well from the pandemic and other geopolitical shocks, its revival is facing many difficulties ahead including health threats, the destruction of human capital as well as the increase in carbon emissions and the destruction of biodiversity. He commended ASEAN leaders in their efforts to deal with these challenges. The Dialogue was chaired by Cambodian Prime Minister Hun Sen and attended by ASEAN leaders, leaders from ASEAN partner countries, and representatives of international organizations.
During the visit to Cambodia from 12-17 November, Vice President Lavasa also met with ADB Alternate Governor Excellency Vongsey Vissoth who is Minister attached to the Prime Minister and Permanent Secretary of State at the Ministry of Economy and Finance and emphasized the role of private sector in recovery and growth. He separately met with a leading rice federation, a pioneer of SME cluster development in Cambodia, a bank, and a group of small entrepreneurs to discuss challenges and opportunities in the country for expansion of business opportunities. He visited project sites under the National Solar Park Project and the Climate Resilient Rice Commercialization Sector Development Program, and met with staff at ADB Cambodia Resident Mission.
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President Asakawa addresses IMT-GT Leaders’ Summit in Cambodia; Meets with Indonesia's President Widodo
At the Indonesia–Malaysia–Thailand Growth Triangle (IMT–GT) Leaders’ Summit in Phnom Penh on 10 November 2022, President Masatsugu Asakawa commended IMT-GT on the achievements of economic cooperation, the adoption of the ADB-supported IMT-GT Implementation Blueprint 2022-2026, and pandemic recovery efforts. He highlighted recommendations of recent ADB studies on IMT-GT special economic zones and economic corridors to help the subregion foster economic recovery and growth. He also touched on ADB initiatives to help IMT-GT in climate change mitigation and adaptation, sustainable energy systems, smart and livable cities, and tourism revival. The summit was chaired by Thailand Prime Minister Prayut Chan-o-cha and attended by Indonesia President Joko Widodo, Malaysia Speaker of the House of Representatives Tan Sri Azhar Azizan Harun, and ASEAN Secretary General Lim Jock Hoi. President Asakawa also met with President Widodo on the sidelines of the IMT-GT Summit. They discussed a range of issues including the uncertainties in the global economy and the impact on Indonesia’s sustainable growth, food security, and energy transition including the Energy Transition Mechanism (ETM).
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ADB to Strengthen Upper Secondary STEM Education Reforms in Cambodia
ADB has approved a $70 million loan to Cambodia to support government efforts to deepen reforms in upper secondary science, technology, engineering, and mathematics (STEM) education across the country. The project will put in place standards for quality education for all upper secondary schools, upgrade facilities, and provide essential education technology and STEM equipment in the country. It will also increase the pedagogical skills and content knowledge of teachers and strengthen STEM education delivery. The project will establish partnerships with tertiary education and training institutions, industry and business and strengthen institutional capacity for planning and delivery of upper secondary education. These initiatives will improve student proficiency in critical thinking, problem-solving, creativity, and collaboration, all of which are needed for a knowledge-based economy.
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ADB Boosting Environmental Safeguard Resources
On 2-4 November, ADB Cambodia Resident Mission (CARM) organized an awareness training for new graduates and safeguard consultants on ADB environmental safeguard requirements. In his opening remarks, CARM Head of the Portfolio Administration Unit Anthony Gill expressed his optimism that the training will increase the resources of junior environmental consultants to support ADB-financed project preparation and implementation more effectively. This is the first of a planned rolling program of environment safeguards awareness training in Cambodia.
