The Asian Development Bank (ADB) has launched a new country partnership strategy for Cambodia, which aligns 100% with the phase one of the seventh-mandate government’s Pentagonal Strategy, for the same period of 2024–2028.
This five-year strategy covers a wide range of areas of cooperation. It is designed to work closely with the government and partners to accelerate private-sector-led economic diversification, advance human development and strengthen climate resilience. This was stated in a May 29 ADB press release.
“ADB’s new country strategy is a partnership with Cambodia for its prosperity, its people and the planet,” said Scott Morris, vice-president for East and Southeast Asia and the Pacific, in a press release dated May 29.
The release explains that the comprehensive plan encompasses several key priorities aimed at tackling climate change, strengthening governance and institutional capabilities, advancing gender equality, fostering digitalisation and enhancing closer regional collaboration and integration.
It states that the key to this approach is enhancing high-quality, climate-resilient infrastructure to attract private sector investment and create an enabling business environment, which is particularly beneficial for micro, small and medium-sized enterprises.
The strategy ensures inclusive access to quality and affordable services, such as in education, skills development, healthcare and clean water supplies, as well as sanitation services. The strategy also focuses on climate adaptation initiatives in agriculture, water resource ecosystems, and urban infrastructure. It prioritises the expansion of renewable energy sources and mobilisation of concessional climate finance, in a concerted effort towards a greener and more resilient future for Cambodia.