Web Editor: Yang Yang
Xinhua
The Asian Development Bank (ADB) and the Republic of Korea are supporting road and border improvements in Cambodia to help reduce poverty, increase economic opportunities, and boost ongoing efforts to strengthen trade and tourism in the Greater Mekong Subregion (GMS), a press release issued by ADB on Tuesday said.
ADB's Board of Directors approved a loan equivalent to 16.3 million U.S. dollars for the project which will rehabilitate 113 kilometers of a national road in the northwest of the country, and upgrade a cross-border facility with Thailand. The Ministry of Strategy and Finance of Korea is extending a loan equivalent to 25. 6 million U.S. dollars through its Economic Development and Cooperation Fund (EDCF).
The pot-holed gravel road, that is impassable in the wet season due to flooding, cuts through two of the poorest provinces in the country -- Banteay Meanchey and Oddar Meanchey. It links up with another major route which is a key conduit for goods and people between northwest Cambodia and northeast Thailand, and also forms a feeder connection to the GMS east-west corridor.
Roads are the lifeblood of transport in the GMS but poor surfaces raise costs, cause lost economic opportunities and contribute to high accident rates. The upgraded road and border facility will reduce travel times, improve traffic safety, increase access to markets, and provide new job and business opportunities. It will be another step to strengthen connectivity and develop economic corridors across the GMS -- a bloc of six nations committed to closer ties that support sustainable growth, boost employment and reduce poverty.
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