The World Bank has reaffirmed its commitment to bolstering Cambodia’s socio-economic development, pledging strategic support to help the Kingdom of Cambodia achieve its ambitious goal of becoming a high-income economy by 2050.
The assurance came during a meeting on Tuesday at the Peace Palace in Phnom Penh between Cambodian Prime Minister Samdech Moha Borvor Thipadei Hun Manet and Mr. Carlos Felipe Jaramillo, the World Bank’s Vice President for East Asia and the Pacific.
During the courtesy call, Jaramillo outlined the bank’s roadmap for the region, identifying Cambodia as a priority recipient for assistance in key sectors, including agriculture and agribusiness, tourism, manufacturing, healthcare, and infrastructure.
“The World Bank remains strongly committed to expanding cooperation with the Royal Government of Cambodia to ensure development is both dynamic and sustainable,” Jaramillo said. He emphasized that the bank would further engage with the private sector, describing it as a “vital engine” for job creation and broader economic growth.
In response, Prime Minister Samdech Thipadei Hun Manet expressed his appreciation for the longstanding partnership between the financial institution and the Kingdom. He highlighted the Royal Government’s ongoing efforts to fortify national resilience through human capital development, vocational training, and the strengthening of the financial sector.
The Prime Minister also briefed the World Bank delegation on recent measures aimed at enhancing Cambodia’s investment climate. These initiatives are designed to boost competitiveness, support small and medium-sized enterprises (SMEs), and expand domestic production capacity to ensure long-term economic stability.
The meeting underscores a deepening alignment between Cambodia’s “Pentagonal Strategy” and the World Bank’s regional development goals as the country navigates its transition toward advanced economy status over the next two decades.
