Green light on $50m Cambodia loan to boost competitiveness

The Asian Development Bank (ADB) has approved a US$50m policy-based loan aimed at supporting the government of Cambodia to diversify the country’s economy and boost its global competitiveness.

The loan 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.

The apparel sector is a significant contributor to Cambodia’s economy.

During the first ten months of the year Cambodia recorded an 18.5% increase in apparel exports.

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