ADB okays $6.8M in grants to fuel tourism, rice sectors
ADB okays $6.8M in grants to fuel tourism, rice sectors
The Asian Development Bank (ADB) has announced that it greenlit $6.8 million in grants for two projects, to support the Kingdom on its way to socio-economic recovery from the scourge of the Covid-19 crisis.
The Metro Manila-based development lender said in a statement on January 31 that one grant for $3.7 million “is expected to benefit 4,000 villagers through the Community-Based Tourism Covid-19 Recovery Project”.
“[The project] covers the areas near the heritage Temple of Preah Vihear in Preah Vihear province and the Temple of Phnom Da in Takeo province. Most of the funding, $3 million, is provided by the Japan Fund for Prosperous and Resilient Asia and the Pacific.
“The other grant, at $3.9 million, will benefit about 22,000 smallholder rice farmers by providing additional financing for the Climate Resilient Rice Commercialisation Sector Development Programme in the provinces of Battambang, Kampong Thom, and Prey Veng.
“Most of the funding, $3.8 million, comes from the Global Agriculture and Food Security Programme, a global fund aimed to reduce hunger and improve nutrition in low-income countries,” the ADB said.
ADB acting country director for Cambodia Anthony Gill said: “The first grant will help communities improve tourism infrastructure and customer service, which can attract more tourists and boost the local economy.
“The second grant will help Cambodia’s rice producers increase incomes and climate resilience by addressing logistics and supply chain disruptions caused by Covid-19,” he added.
The ADB stressed that it “is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty”.
Established in 1966, the bank lists 68 members, 49 of which are from the Asia-Pacific region.
