Phnom Penh, Dec 13 (IANS): The Manila-based Asian Development Bank (ADB) on Tuesday said that it has approved a $62.9 million financing package to help Cambodia enhance food security and promote inclusive economic growth.

The Greater Mekong Subregion (GMS) Cross-Border Livestock Health and Value Chains Improvement Project will be financed by a $50-million loan from ADB's concessional resources, a $12-million Asian Development Fund grant, and a $0.9-million grant from the Climate Change Fund, Xinhua news agency quoted the lender as saying in a statement.

"The livestock subsector is crucial to sustainable rural livelihoods and food security in Cambodia, and it offers many opportunities for smallholder farmers, including women, and small and medium-sized agribusinesses," ADB principal climate change specialist for Southeast Asia, Srinivasan Ancha said.

The project will directly benefit at least 40,000 households in Phnom Penh capital city and Kampong Cham, Oddar Meanchey, Prey Veng, Siem Reap, and Takeo provinces by boosting investments in critical infrastructure, institutional and technical capacities, and enabling policies.

It will also develop infrastructure in Kandal, Kampong Thom, and Pursat provinces to meet nationwide needs for veterinary vaccines and artificial insemination, the news release said.

"The project will enhance productivity and resilience of the livestock subsector by reducing risks from transboundary animal diseases, zoonoses, and antimicrobial resistance," it said.