ADB pledges money for Cambodians' livelihoods
11/12/2009
The Asian Development Bank (ADB) has announced that it will provide US$30.7 million (18.8 million pounds) worth of loans and grants to an initiative in Cambodia that aims to offer a bolster to the income and livelihoods of people in the country.
According to the bank, the project will encourage agricultural productivity and increase incomes for up to 2.5 million people in 630,000 households in the regions of Banteay Meanchey, Kampong Cham, Kampong Thom and Siem Reap.
As well as the ADB's funds, two of its partners - the International Fund for Agricultural Development and the Finnish government - will also contribute $19.1 million to the cause.
Ian Makin, senior water resources management specialist with ADB's southeast Asia department, commented that the project will help to deliver "increased crop productivity and output, improved post-harvest management, market access and prices, greater access to rural financial services, and increased knowledge of agriculture technologies".
This, he continued, will lead to the improvement of living standards, income levels and more work opportunities for poorer households.
In related news, the Asian Sentinel claimed this week that the construction of dams along the Mekong River could damage the livelihood of people living along the waterway in countries such as Cambodia, Vietnam and Laos.
Written by Simon Bassett
