Khiev Hieng, a 58-year-old widow, shows her excitement as she draws a lottery card from a plastic container. The card is for a plot of land being distributed to poor and land-poor families. Hieng’s card allocates her a 30-by-40-meter plot to build a house on, and 3.5 hectares of agricultural land for herself and six [...]
World Bank Senior Vice President and Chief Economist Dr. Justin Yifu Lin visited Cambodia for three days from September 6 – 8, 2010 to learn about the country’s development, the challenges it faces and its prospects for future growth, and to exchange views on the global economy and its impact on Cambodia. The World Bank [...]
“Cambodia can sustain rapid growth,” said the World Bank Senior Vice President and Chief Economist, Dr. Justin Yifu Lin, as he finished a three-day visit to Cambodia from September 6 to 8, 2010. “Cambodia has many unique advantages, such as dynamic, growing neighbors, young and abundant labor forces, and natural resources to generate growth.” During [...]
Phnom Penh June 12, 2007 – Although the gap between rich and poor in Cambodia has widened since 1994, this occurred mainly before 1997, with little change from then till 2004, according to a new World Bank report. And if Cambodia can maintain high rates of growth while containing the rise in inequality, the report [...]
According to the figure of the consumer price index (CPI) released by the National Institute of Statistics (NIS), the inflation of the cost of living conditions in Phnom Penh increased 1.8 percent in June in comparison with May, when the prices rose 1 percent. The increase in inflation is because of the increasing prices of [...]
In response to fight against the global financial crisis, the amount of $59.4 million in concessional loans has been granted to Cambodia by Asian Development Bank (ADB). The money has been made available through the bank’s Asian Development Fund (ADF), which received a $400 million boost Tuesday as part of a much broader $3.4 billion [...]
The global financial crisis did not affect strongly the local commercial banks in Cambodia because most of banks don’t depend on foreign source of finance, and loans from other foreign banks and also don’t buy stocks in the international market. At the mean time, Cambodia has not yet created stock exchange. As Cambodia’s banking sector [...]
The Cambodian Ministry of Commerce, together with four of its development partners, launched a $12.6 million Trade Development Support Program (TDSP) on March 23, 2009, aimed at assisting Cambodia to expand its international trade. The program is financed by the European Commission, the Danish International Aid Agency (Danida) and the United Nations Industrial Development Organization [...]
While East Asian countries have entered the current crisis substantially better prepared than they were for the 1997 Asian financial crisis, none have been spared the full fury of the global economic storm, says the World Bank’s latest six-monthly assessment of the East Asia & Pacific region’s economic health. In the face of weakening export [...]