Cambodia receives US$100 million loan from ADB

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The Asian Development Bank (ADB) has lent US$100 million to the Cambodian government to bridge the skills gap and improve the workforce and technical and vocational education and training (TVET).

The plan is committed to making Cambodia a country with high-tech and high-knowledge industries. The ADB said the plan will address skills shortages and strengthen Cambodia’s human resources through reform and investment in TVET and private sector participation, leading to national skills development.

It is understood that the first sub-plan aims to improve the national skills development environment, train skills to meet market demand, and develop needed skills by providing environmental protection industry training and raising additional funds.

In addition, the Cambodian government is cooperating with ADB to pilot a skills competition to improve the competitiveness and skill level of the workforce. There are about 9 million workers in the Cambodian labor market, of which women account for 49%. In 2021, 54% of Cambodian young people will be under the age of 30. skills while upskilling workers presents a unique opportunity and meets industry needs.