The World Bank Board of Directors has approved a $275 million credit to support Cambodia’s efforts to promote long-term economic growth and resilience. This financing, sourced from the low-interest International Development Association (IDA) funds designated for developing countries, aims to foster reforms that enhance private sector competitiveness, strengthen Cambodia’s fiscal position, and provide assistance to the most vulnerable populations.
This credit is for the Second Cambodia Growth and Resilience Development Policy Financing Project, addressing the challenges that have hindered the country’s efforts to recover from the lingering economic effects of the COVID-19 pandemic. It builds on the $274 million first Cambodia Growth and Resilience Development Policy Financing approved in 2022, World Bank said in a press release.
