ADB, Gov’t Sign Deals Worth Nearly $100M

The Asian Development Bank (ADB) and the government Monday signed loan and grant agreements worth a total of $98.5 million that allow the ADB to oversee disbursement of the money for three nationwide projects, the bank said in a press release.

The agreements include $66 million in financing for a $118-million project to pave 729 km of road in nine provinces, $30 million for a nationwide vocational training program and $2.5 million to bolster disaster risk management in six provinces.

“These initiatives will improve the quality of life for poor and vulnerable people through a climate-resilient and cost-effective road network, the development of a skilled workforce responsive to labor market needs, and disaster management planning support to reduce disaster impacts in the country,” ADB country director Eric Sidgwick said in the statement.

Mr. Sidgwick and Finance Minister Aun Porn Moniroth signed the agreements in Phnom Penh.

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