Thursday, 14 February 2008

Int'l community provides over $70 mln for Cambodia
2008-02-13 20:29:36

PHNOM PENH, Feb. 13 (Xinhua) -- The representatives of the United Kingdom (UK), Japan, the World Bank and the European Union (EU) to Cambodia on Wednesday provided over 70 million U.S. dollars of grant aid and loan for Cambodia to reduce its poverty and improve economy.

"The finance will be used for the reforms of public financial management, private sector development, as well as natural resource and land management from 2007 to 2010," said Keat Chhun, Cambodian Minister of Economics and Finance.

He signed an agreement with Japanese Ambassador Katsuhiro Shinohara, British Ambassador David Reader, the World Bank's country director Nisha Agrawal and EU's representative Rafael Dochao Moreno.

"We will spend this budget to match the development goals with effectiveness, transparency and accountability," he added.

David Readers said on behalf of the donors that this reflected the determination of the four development partners in helping Cambodia achieve the development goals, reduce poverty and speed up the economic growth and reforms.

Among the 70 million dollars, the UK provided 15 million dollars as grant aid, the World Bank 15 million dollars asgrant aid, the EU 33 million dollars as grant aid and Japan 8.5 million dollars as concession loan, according to a joint press release.

Editor: Jiang Yuxia

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