world bank
Bank and microfinance institution offices in Phnom Penh (Matt Surrusco)

World Bank-Linked Watchdog Accepts Complaint on ‘Reckless’ Microloans

The watchdog group within World Bank sister organization International Finance Corporation (IFC) will assess a wide swath of the Cambodian microfinance sector after accepting a complaint alleging these lenders’ practices have caused social harms, civil society groups announced today.

Controversial Land Distribution Project to Enter Third Phase

The Land Management Ministry has announced it will aim to distribute 30,000 hectares to the country’s poor in the third phase of a World Bank-funded project, which previously came amid controversy over the bank suspending loans to Cambodia over forced evictions.

A building leftover from the flooded Kbal Romeas commune in Stung Treng province on September 22, 2020. (Danielle Keeton-Olsen/VOD)

Pandemic ‘Exposed Cambodia’s Structural Weaknesses’: World Bank

The World Bank projected 4 percent GDP growth for Cambodia this year as the region starts to recover from the global pandemic-induced economic downturn, but noted continuing issues with the country’s tourism- and garment-driven economy as well as a high risk of lasting income inequality.

A family collects rainwater to save money on water expenses, in Phnom Penh’s Chbar Ampov district on June 12, 2020. (Hun Sirivadh/VOD)

Poverty to Increase in Economic Downturn: World Bank

Hit by the global economic slowdown and the loss of E.U. trade benefits, Cambodia’s economy is projected to contract 2 percent this year, with the World Bank warning that poverty rates will be on the rise regionwide.

Garment workers (Panha Chhorpoan/VOD)

GDP Growth to Shrink to 2.5% Amid Pandemic, World Bank Projects

Cambodia’s GDP growth this year could drop to its lowest rate in more than a decade, the World Bank projects, with some economic experts warning that the country’s reliance on international markets could slow recovery.