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ADB-Cambodia: Country Partnership Strategy 2019-2023

Video | 7 November 2019

Cambodia has developed from one of the poorest countries in Asia to one of the fastest-growing economies, aspiring to become a technology driven, upper middle-income country by 2030. Under the Country Partnership Strategy for 2019–2023, the Asian Development Bank will support Cambodia’s ongoing transition through investments, technical assistance, knowledge and policy advice.

The CPS will prioritize four pillars of support and focus on gender equality and private sector growth: accelerating competitiveness and economic diversification, strengthening human capital and lifelong learning, fostering green, inclusive and sustainable development, and improving governance.The 5-year CPS maps out ADB’s support for the Cambodian government in achieving its socio-economic policy agenda

Transcript

Cambodia has developed from one of the poorest countries in Asia to one of the fastest-growing economies, aspiring to become a technology driven, upper middle-income country by 2030.

Under the Country Partnership Strategy for 2019–2023, the Asian Development Bank will support Cambodia’s ongoing transition through investments, technical assistance, knowledge and policy advice.

The Country Partnership Strategy will prioritize four pillars of support, and focus on gender equality and private sector growth.

Accelerating competitiveness and economic diversification.

ADB will help develop livable cities with adequate urban services, promote capital market reforms, boost agricultural value chains with the use of mobile technology, and build regional connectivity for tourism and trade.

Strengthening human capital and lifelong learning.

ADB will focus on improving the quality and relevance of education and technical skills, to help Cambodia’s young labor force transition from a low-skills to high skills - to innovate and make use of technologies.

Fostering green, inclusive and sustainable development

The poor are particularly vulnerable to the effects of climate change.

To foster green and inclusive development, ADB will support integrated resource management, climate-friendly farming and climate-resilient infrastructure.

ADB is supporting Cambodia to make greater use of its vast potential in solar energy.

Improving governance

Cambodia’s openness to trade and investment has paved the path for economic opportunities.

Better governance will help create more equal business opportunities for Cambodians, and with it, more and better jobs, so that the nation can stay on track to become an upper middle-income economy, where the fruits of high growth are enjoyed by all Cambodians.