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Donors Inject $1.1 Billion US for Cambodia for 2010

Thursday, 03 June 2010 11:39 DAP-NEWS/ Ek Madra

CAMBODIA, PHNOM PENH, June 3, 2010– Donors, who are pleased with Cambodia’s performance over years, have pledged an estimated $1.1 billion including loans and grant aid for this impoverished Southeast Asian nation’s development, finance minister Keat Chhon told reporters after two-day meeting.

The minister Keat Chhon said “the donors’ assistance reflected the government’s strong commitment for the country’s development.”

The pledged amount $1.1 billion of which 20 percent is loan, said Cambodian officials who attended meeting.

Japan pledged a biggest contribution among the donors during the 2- 3 June meeting, but officials did not reveal the figure.

“The donors’ financial contribution is positively response to our National Strategic Development Plan (NSDP),” said Keat Chhon.

The National Assembly of this former war-torn nation on early this week approved $6.3 billion, a policy blue print for National Strategic Development Plan (NSDP) 2009- 2013, as investment budget. Cambodia expected donors to fix the shortfall of the investment budget—which will be invested in social, economic, infrastructure and services, planning minister Chhay Than told donors in the meeting.

Cambodia promised donors to invest their financial assistances in the country’s key priority sectors, especially in agriculture, physical infrastructures, human resources development, power production, as well as legal reform, said finance minister Keat Chhon.

“The consensus of the meeting was that the successful implementation of the national strategy development plan will be underpinned by a return to higher level of growth, continued macroeconomic stability, good governance and an enable environment,” said the government’s press release at the conference.

The World Bank Country Director Ms Annette Dixon, who spoke on behalf of development partners, said in the government’s press release that “we share the same goal of achieving results for the Cambodian people, particularly the poor and vulnerable.”

Dixon she also said on Wednesday that “Cambodia has made significant progress in economic growth, poverty reduction and social development in the past decade.”

The country’s poverty line is now said 30 percent out of the country’s total nearly 14 million from nearly 50 percent in early 1990s when the factional leaders agreed to end the conflicts followed U.N. sponsored election in 1993.

The Kingdom’s growth hit almost double digits from 1998 to 2007. This Southeast Asian nation projected at 4.4 pct for 2010 and higher at 6 percent for 2011 thanks to the regional economic recovery.

Prime Minister Hun Sen said in the release that “the government will not relax its effort in keeping Cambodia on track of development, including poverty, reduction, peace and political stability, good government, and continued reform.”

Last government-donor meeting in 2008, Cambodia received $951.5 million in assistance, the biggest aid ever since 1994, from donors who urged the country to more reforms including combating graft, land grabs and judicial reform.

Hor Nam Hong to Attend the 3th Summit in Turkey

Thursday, 03 June 2010 10:03 DAP-NEWS

CAMBODIA, PHNOM PENH, June 3, 2010- “ Hor Nam Hong, Cambodian Minister of Foreign Affairs and International Cooperation, will lead a delegation to the 3th Summit of the Conference on Interaction and Confidence-Building Measures in Asia ( CICA ) , which is held in Istanbul City, Turkey on June7 to 9 ,2010 , in response to the invitation of Kazakhstan President Nursultan Nazarbayev and Turkish President Abdulalah Gul, “ according to the Foreign Ministry’s statement said on Thursday of June 03,2010.

“The 3th Summit of the Conference on Interaction and Confidence-Building Measures in Asia is a forum for Mixed Cooperation, Political Dialogue, and Confidence Building in order to ensure Security, Peace, and Stability in Asia.

Edited by Mr.Rasmey ( Mr.Go For It )