Cambodian economy gets an additional US$ 24 million bonanza

Cambodge Soir

13-09-2008

The American government announced a donation to help Cambodian economic development. The Agreement will be signed during John Negroponte’s visit.

Erin Soto, USAID mission director and Sok An, the Deputy Prime Minister and Minister of the Council of Ministers of Cambodia, will sign an agreement for US$ 26 million on behalf of their respective countries on Monday September 15. The ceremony will be presided over by John Negroponte, the US Deputy Secretary of State and Hun Sen, the Prime Minister of Cambodia. This amount aims at strengthening and developing the Cambodian economy. The US, through their Agency for International Development (USAID) will inject US$ 24 million, whereas the Cambodian government will commit US$ 2 million.

A four-year long agreement, it will facilitate growth. The USAID project for micro-companies and small and medium companies will be strengthened and enlarged to the private sector. The public domain will be included in the programme to guarantee a conducive background for companies and businesses.

USAID, in 2008, plans a US$ 57.5 million budget distributed through different programmes.