Phnom Penh (FN), Jun. 12 – Asian Development Bank (ADB) President Masatsugu Asakawa joined Cambodian Minister of Economy and Finance Aun Pornmoniroth to inaugurate ADB’s new resident mission, on Wednesday (Jun. 12) following the recent launch of ADB’s latest country partnership strategy for Cambodia for the period 2024–2028.

"Today is not just a celebration of a new and modern office, but a recognition of the deep bonds and shared development goals between ADB and Cambodia. This inauguration follows the launch of the new country partnership strategy for 2024-2028, which is tailored to Cambodia’s development needs by prioritizing economic diversification, human capital development, and climate resilience," said Asakawa.

The new office, designed with climate-friendly materials and energy-efficient systems, serves as a modern and collaborative workspace. It features several traditional cultural motifs from Cambodia, reflecting the country’s rich heritage. This move underlines ADB’s commitment to sustainability and its dedication to providing a conducive working environment for its staff.

“ADB has been a long-standing and trusted development partner of Cambodia, contributing significantly to the country’s development. This inauguration coincides with the launch of the new country partnership strategy for 2024-2028, under which the ADB has committed approximately USD 1.26 billion to support the Royal Government of Cambodia, further cementing our commitment to sustainable development and economic growth in Cambodia," Minister Aun Pornmoniroth underscored.

As of 31 December 2023, ADB has committed 339 public sector loans, grants, and technical assistance totaling USD4.8 billion to Cambodia. ADB’s active sovereign projects in the country include 34 loans and 8 grants worth USD1.92 billion. Cambodia joined ADB in 1966 as a founding member, followed by the implementation of its first ADB-supported project in 1970.