Asian Development Bank and Cambodia: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Cambodia as well as concise information on ADB's operations in the country and contact information. After more than 2 decades of isolation and conflict that ended in 1991, much has been achieved in Cambodia in recent years. Cambodia has made important progress in ensuring peace and security, rebuilding institutions, establishing a stable macroeconomic environment, and putting in place a liberal investment regime. Notwithstanding these achievements, much remains to be done. Although a robust annual gross domestic product growth of more than 7% during the last decade has led to a steady decrease in poverty, its incidence, at 34.7%, remains high. Recent economic growth—mostly centered on garments and tourism— are urban-focused, with limited linkages to the rural economy where 91% of the poor people live. This has led to a rapid increase in inequality over the past decade. There remains a pressing need to diversify the economy to enable the rural poor to contribute to and benefit from economic growth. Achieving some of Cambodia’s Millennium Development Goals (CMDGs) related to human development will also remain a challenge. With peace and macroeconomic stability now more firmly entrenched, the country has the opportunity to make far-reaching economic reforms to achieve sustained socioeconomic development. Within this context, the Government has developed a comprehensive reform agenda aimed at achieving the CMDGs, which is embedded in the National Strategic Development Plan (NSDP) 2006–2010.