ADB President Backs Cambodia’s Economic Diversification and People-Centered Development

ADB President Masato Kanda and Cambodian Prime Minister Hun Manet during their meeting in Phnom Penh on 20 March.

PHNOM PENH, CAMBODIA (20 March 2025) — Asian Development Bank (ADB) President Masato Kanda met today with Cambodian Prime Minister Hun Manet, reaffirming ADB’s strong partnership with Cambodia and its commitment to advancing economic diversification, private sector development, and investments in people to sustain inclusive growth.

“Amid intensifying global challenges, strong leadership and a commitment to people-centered development are essential,” said Mr. Kanda. “ADB is dedicated to supporting Cambodia as it navigates economic shifts and creates new opportunities, particularly for the poor and most vulnerable.”

Mr. Kanda and Mr. Hun in their discussion emphasized the importance of balancing economic growth with ecological sustainability and cultural preservation. They also recognized the importance of regional energy cooperation, including Cambodia’s participation in the ASEAN Power Grid, to enhance energy access and security.

During his visit, Mr. Kanda toured the Asian Development Fund-supported Sustainable Coastal and Marine Fisheries Project, which is regenerating marine ecosystems, boosting fisheries sustainability, and improving livelihoods in coastal communities. Engaging with fisher families and other community members, he reaffirmed ADB’s role as the country’s largest multilateral development partner and its commitment to projects that create lasting and meaningful impact.

Mr. Kanda also visited a high school in Kep province supported by ADB’s Second Upper Secondary Education Sector Development Program, which emphasizes science, technology, engineering, and mathematics (STEM) education and promotes female student empowerment. Speaking with students and educators, he underscored the importance of equipping young people with the skills needed to succeed in the country’s evolving labor market.

In discussions with Cambodian Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth, Mr. Kanda highlighted ADB’s support for key reforms under the country’s national strategy, including strengthening high-value industries; supporting micro, small, and medium-sized enterprises; enhancing the investment climate; and accelerating digital transformation.

He also met with ministers of agriculture, forestry, and fisheries; education, youth, and sport; industry, science, technology, and innovation; labor and vocational training; and water resources and meteorology to explore sector-specific collaboration opportunities.

In addition, Mr. Kanda exchanged views with National Bank of Cambodia Governor Chea Serey about broadening access to banking, expanding digital payment options, and adopting policies that help rural communities and new businesses thrive.

ADB has a growing portfolio in Cambodia valued at approximately $2.2 billion. Over the past 3 years, ADB’s sovereign commitments to Cambodia have averaged approximately $350 million annually. ADB’s country partnership strategy for Cambodia, 2024–2028, underscores its strategic commitment to the country’s development.

ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—49 from the region.