Tuesday, October 28, 2014

Cambodia, ADB Sign US$99 Million Agreements to Boost Quality of Life


28 October 2014

The Royal Government of Cambodia and the Asian Development Bank (ADB) signed here today grant and loan agreements worth some US$99 million for three development projects to boost the quality of life.

The Rural Roads Improvement Project II will pave 729 kilometers of rural roads in nine provinces with high poverty incidence in Cambodia, such as Banteay Meanchey, Battambang, Kampong Cham, Kampong Chhnang, Kampong Speu, Kampong Thom, Pursat, Siem Reap, and Takeo. The project will also extend rural road asset management and axle-loading control programs and is expected to benefit about 800,000 rural people.

Finally, the US$2.5 million Community-Based Disaster Risk Reduction Project, financed by the Japan Fund for Poverty Reduction, will support 54 selected communes in 18 districts in the six target provinces of Battambang, Banteay Meanchey, Siem Reap, Kampong Thom, Kampong Cham and Prey Veng, to put in place disaster risk management and climate change adaptation plans.

The project will provide hazard and vulnerability assessments, early warning systems, and emergency response and recovery plans, reflecting the needs and vulnerabilities of communities. The project aims to reduce economic losses from floods by 15% over a five-year period from 2015.

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