MANILA, Nov. 26 (Xinhua) -- The Asian Development Bank (ADB) on Tuesday approved a policy-based loan of 50 million U.S. dollars to support Cambodia's efforts to make the business environment more investment-friendly.

The ADB said the second subprogram of the ongoing Trade and Competitiveness Program is reinforcing the government's efforts to leverage private sector investments to achieve higher, inclusive, and sustainable growth to improve the lives and livelihoods of its citizens.

"This program supports the ADB's continued commitment to advancing Cambodia's economic potential and creating a more robust enabling ecosystem for business to grow, leading to increased investment, job creation, and sustainable economic growth," said ADB Country Director for Cambodia Jyotsana Varma.

The program focuses on micro, small, and medium-sized enterprises, and also seeks to facilitate smoother, more efficient cross-border trade by improving regulatory frameworks, streamlining procedures, and reducing barriers to trade, leading to Cambodia being better positioned to participate in regional and global markets, Varma said. Enditem

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