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The economy remained robust, underpinned by solid export performance and strong domestic demand, according to the latest edition of the World Bank’s Cambodia Economic Update report, released today.
The Asian Development Bank (ADB) and Cambodia’s Ministry of Economy and Finance today signed two agreements worth $89 million that will boost rural areas’ access to water supply and sanitation services and improve the country’s financial sector development efforts.
The Asian Development Bank (ADB) has approved a $40 million policy-based loan for the second phase of a program that is supporting the Government of Cambodia’s efforts to develop an efficient and stable financial sector that promotes greater financial inclusion and sustainable development.
Cambodia, which is located between Thailand and Vietnam and has a 440-kilometer coastal zone which is separated from the rest of the country by a mountain ridge, is in need of a “third neighbor” in order to survive economically and politically, and for improving its export opportunities.
The Cambodian economy grew 7.5 percent in 2018, according to the World Bank’s Cambodia Economic Update, released today. This better-than-expected growth was driven largely by the rapid expansion of exports and ongoing construction boom.
Cambodia’s recent development story has much in common with the broader region. Phenomenal growth has changed its economy and society beyond recognition.