Saturday, October 2, 2010

Cambodia, ADB Sign Agreement on Poverty Reduction Project in Tonle Sap Region


Cambodia’s Secretary of State of the Ministry of Economy and Finance H.E. Oun Porn Monirath and Mr.Putu Kamayana, ADB Representative to Cambodia sign in Phnom Penh on Sept. 20, the Grant Agreement for Tonle Sap Poverty Reduction and Smallholder Development Project (Project Financed by the Government of Finland) between the Royal Government of Cambodia and the Asian Development Bank with the amount of USD 5.75 million for the projects of poverty reduction and small scale agricultural development in Tonle Sap Lake region.

The grant, provided by the government of Finland, is a part of the US$55.3-million grant and concession credit funded by ADB (US$30.7 million), the International Fund for Agricultural Development (IFAD) (US$13.38 million).

The project will help the royal government in rural infrastructure development so as to increase agricultural productivity, facilitate the transport of products to the markets and to improve the people’s living condition in Tonle Sap region including the provinces of Banteay Meanchey, Kampong Cham, Kampong Thom and Siem Reap.

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