Bank lends Cambodia over US$1o ms for budget reform

Phnom Penh (21 Dec, 2011): The Asian Development Bank (ADB) has lent Cambodia US$15 millions for improving the country’s financial system.

The loan will focus on some sub-programms — improving regulatory frameworks and supervision of banks and microfinance institutions to better support a fast-changing domestic market and developing interbank transactions.

According to ADB’s press release on Tuesday, the loan has a 24-year term, including an 8-year grace period with an interest rate of 1 percent and 1.5 percent for the balance term. CN staff.