The Asian Development Bank (ADB), July 8, 2020 US $ 250 million loan has been approved to help the Cambodian government respond to the cholera outbreak (COVID-19) by strengthening The country's healthcare system provides social assistance to the poor and vulnerable, and provides economic support for businesses including small and medium enterprises. Also medium.
“This support will assist the Royal Government of Cambodia in reducing the negative impact of this epidemic on social and economic health.” Development Bank President Masatsugu Asakawa Asia adds, "Cambodia has a record of good macroeconomic management, but COVID-19 threatens to slow progress in poverty reduction." Especially among vulnerable groups such as women and migrant workers. The loan is ADB's long-term plan to focus on supporting Cambodia's economic recovery and public financial sustainability. . ”
Cambodia is particularly vulnerable to the negative effects of COVID-19 due to its open economy, narrow economic base and large population. ADB expects Cambodia's economy to shrink by around 5.5% by 2020 due to reduced tourism, exports of garments, footwear and travel materials And a decrease in construction activity. The risk of the decline could lead to another 1.3 million people falling into poverty.
In March, Cambodia announced an in-depth response to COVID-19 with a total initial budget of $ 815.7 million, representing 3.2% of products. Domestic expected for 2020. These include support for the health system to prepare for the rising number of cases of COVID-19 and for workers and enterprises, including transfusions $ 150 million to support banks that lend to small and medium businesses. The support package includes $ 300 million in cash assistance to poor and vulnerable families listed in the government's database . The IDPoor database includes 2.4 million poor families and is being added to the families affected by COVID-19.
ADB's COVD-19 Cost and Support Program (called CARES) is funded through a disease response option. COVID-19 (known as CPRO) under ADB's auspices to tackle unusual economic processes. CPRO was initiated through ADB's assistance, which was expanded to $ 20 billion on April 13 for developing members in response to Epidemiology.
The program includes a supported country participation framework to ensure that the Government and ADB continue policy discussions around implementation and monitoring of responses. To the COVID-19 of Cambodia.
The framework also includes consultation with the private sector and civil society organizations. The program is also linked to ADB's current support for public financial management reform to improve governance and transparency and improve efficiency. Develop policy and budget, cost tracking and audit.
The CARE program was developed in coordination with development partners and is in addition to the current ADB support to supply the temperature monitoring equipment for the channel. International inspections and periodic updates to the Ministry of Health website displaying COVID-19 monitoring reports and related information daily. It is part of the strong potential of investment and technical assistance projects linked to ADB's Country Partnership Strategy for 2019-2023. And will support the postnatal recovery of COVID-19.
ADB vows to bring about prosperity, sustainability, resilience and sustainability for Asia and the Pacific while at the same time continuing its sustainability. Its efforts to eradicate poverty. Established in 1966, it is owned by 68 member countries, including 49 in the region.