The World Bank downgrades Cambodia’s projected growth due to COVID crisis

Laborers work at a construction site in Phnom Penh, Picture taken September 27, 2021. CamboJA/ Pring Samrang

The World Bank downgraded Cambodia’s forecasted economic growth for 2021 to 2.2 percent from a previous projection of 4 percent, and urged the country to strengthen its external competitiveness to accelerate economic recovery and boost job creation.

World Bank approves $200 million for Cambodia’s fight against COVID-19

Laborers work at a construction site in Phnom Penh, picture taken on June 8, 2021. CamboJA/ Pring Samrang

The World Bank has approved $200 million worth of International Development Association (IDA) credit for Cambodia’s fight against the ongoing COVID-19 pandemic and broader economic recovery.

Despite positive report, too soon to tell with Cambodia’s economic recovery

Garment factories like this supplier in Kandal provided a central pillar for Cambodia's economic growth before the pandemic, December 2018. CamboJA/ Pring Samrang

A newly released report from the Asia Development Bank (ADB) forecasting growth for the Cambodian economy is providing only cold comfort as its authors acknowledge their study had been conducted before the sweeping lockdown of Phnom Penh and Takhmao.

Industry 4.0 could threaten Cambodia’s garment and tourism sectors, says new ADB report

The garment workers leave from a factory in Phnom Penh, April 12, 2021. CamboJA/ Panha Chhorpoan

The economic impact of the pandemic on Cambodia’s garment sector and tourism industry may only be the first blow to these economic engines.