About 41 percent of the population live on 2 USD per day or less in Cambodia (Photo: adb.org)
Phnom Penh (VNA) – The Asian Development Bank(ADB) has approved a loan worth 40 million USD and an aid package worth 600,000USD to help strengthen Cambodia’s financial sector and promote financialinclusion within the country’s unbanked population.
Cambodia’s impressive economic growth in recent years has helped reduce the povertyrate from 47.8 percent in 2007 to 13.5 percent in 2014, according to ADB.
However, many people are still vulnerable to poverty, especially those in ruralareas where 90 percent of the poor live, and about 41 percent of thepopulation live on 2 USD per day or less, said the bank.
It also added that financial sector of the Southeast Asian country needs to befurther developed, because only 59 percent of the population have access to formalfinancial services, and about 30 percent of the adult population are excludedfrom any form of financial services.
The project will help the Cambodian government develop its ♑financial sector andpromote inclusive growth, said Hiroyuki Aoki, senior financial specialist at theADB’s Southeast Asia Department.-VNA
Cambodia’s economic growth is projected at 7.2 percent in 2013, picking up to 7.5 percent next year as recovery in Europe and the US takes hold, the Asian Development Bank (ADB) said in a report issued on April 9.
The Asian Development Bank (ADB) maintained its forecast for Cambodia's economic growth at 7.2 percent in 2013, supported by buoyant exports and robust construction and service sectors, according to the bank’s latest report.
The Asian Development Bank (ADB) is providing emergency humanitarian assistance of 3 million USD to help Cambodia recover from devastating floods that have affected 1.7 million people and caused an estimated 1 billion USD in damage.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
About 41 percent of the population live on 2 USD per day or less in Cambodia (Photo: adb.org) 
