ADB approves $50 million loan to improve public services in Cambodia

The Asian Development Bank said on August 29 that it had approved a $50 million policy-based loan to improve governance and public financial management in Cambodia and make services more equitable and resilient. The loan supports the first subprogram of an initiative to improve governance for service delivery. It continues ADB support for Cambodia’s public financial management reforms, now in a fourth phase focused on performance accountability. The initiative helps institutions collect revenue and manage expenditure more efficiently, freeing funds for better and more extensive public services. Better public investment governance also supports private-sector development through stronger public–private partnership frameworks and more transparent procurement. ADB Country Director for Cambodia Jyotsana Varma said the program aimed to improve revenue and expenditure management, drive growth through resilient public investment and improve performance management to deliver better public services. ADB estimated the reforms could generate more than $2 billion in additional revenue and more than $3 billion in efficiency savings by 2028, with benefits across Cambodia for years to come. The first subprogram helps the government implement reforms in sequence and coordinate them with its national agenda so they are sustainable and integrated into government systems. Preah Sihanouk Provincial Television. Reporter: ង៉ែត ពិសាន្ត