ADB provides 60 mln USD loan to Cambodia for improvement of skills, competitiveness

Phnom Penh – The Asian Development Bank (ADB) has approved a 60-million-U.S. dollar loan to boost the skills and competitiveness of Cambodia’s growing labor force, as the Cambodian government seeks to transition its economy from a low-skilled, labor-intensive growth model to a skills-driven one.

The loan aims to help Cambodia diversify and modernize the country’s industrial sector by upgrading the facilities and equipment of selected technical training institutes (TTIs) around the country, improving the curriculum and skills of TTI trainers, and forging stronger ties with the government and business community to meet the needs of the labor market, the Manila-based lender said in a statement on Tuesday.

Cambodia is ranked 110th out of 140 economies in the 2018 Global Competitiveness Report, based on business reporting on the difficulty of finding highly skilled employees to fill technical roles, it said.

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