Phnom Penh (VNA) - The Asian Development Bank (ADB)predicts Cambodia will suffer 390,000 job losses this year due to the COVID-19pandemic.
On July 8, the ADB approved a 250 millionUSD loan to further help the Cambodian government respond to the pandemic.
ADBcountry director in Cambodia Sunniya Durrani-Jamal said on July 15 that the concessionalloan will have a 24-year term, including a grace period of eight years.
Theloan will have an interest rate of one percent per annum during the graceperiod, and 1.5 percent thereafter.
Besidesthe loan, the ADB will provide grants to Cambodia as well as technicalassistance for its cash transfer programme.
Followingthe loan’s approval, Cambodia will be eligible for support under the 5 million USDPolicy Advice for Covid-19 Economic Recovery technical assistance programme,Durrani-Jamal said.
TheADB’s financial support, she said, will be targeted at businesses, householdsand individuals that have been adversely affected by the crisis, with a specialemphasis on poor and vulnerable groups.
Ministry of Economyand Finance spokesman Meas Sok Sensan said the loan details will be releasedduring the contract signing, which does not yet have a date.
People’sCentre for Development and Peace President Yong Kim Eng said the loan will helpCambodia’s economic recovery and take poor families out of poverty if it isspent wisely.
Theloan must be spent transparently and effectively. It must be clearly audited byother agencies or by all relevant stakeholders, he said./.
Cambodia and the Republic of Korea (RoK) agreed on July 9 to launch official negotiations for a bilateral free trade agreement (FTA), paving the way for the RoK, Asia's No. 4 economy, to make further inroads into the Southeast Asian market and boost exports.
The National Bank of Cambodia (NBC) said the Kingdom’s economic growth stagnated in the first half of the year due to the impact of the COVID-19 pandemic and forecast that the country’s GDP would contract 1.9 percent this year.
The Cambodian Ministry of Economy and Finance (MEF) has issued two main measures to solve the current issues faced by small and medium enterprises (SMEs).
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Illustrative image (Photo: Cambodiadaily) 
