Phnom Penh (FN), June 26 – The Asian Development Bank (ADB) has approved a $60 million loan to boost the skills and competitiveness of Cambodia’s growing labor force, as the Government of Cambodia seeks to transition its economy from a low-skilled, labor-intensive growth model to a skills-driven one, according to its press release dated 25 June 2019.

“The loan aims to help Cambodia diversify and modernize its industrial sector by upgrading the facilities and equipment of selected technical training institutes (TTIs) around the country; improving the curriculum and skills of TTI trainers; and forging stronger ties between the government and business community to meet the changing needs of the labor market,” the press release stated.

“Having a highly skilled labor force is essential for a country like Cambodia, which has a fast-growing economy and an expanding workforce,” said ADB Education Specialist for Southeast Asia Ms. Yumiko Yamakawa.

“The ADB loan will focus on improving the skills of workers employed in high-growth sectors to fuel the country’s development. We are also making sure that all stakeholders, especially the government and the private sector, work together to boost workers’ skills.”

Read the press release below:
=FRESH NEWS