Friday, 17 December 2010

Cambodia Borrows $1,500 Million Finance from China for Five- Years Development Plan

via CAAI

Friday, 17 December 2010 07:01 DAP NEWS / PISETH

CAMBODIA, PHNOM PENH, Dec 17, 2010-Cambodian Foreign Minister Hor Nam Hong said on Friday that Cambodian government has asked $1,500 million finance from China to develop its infrastructure and economic growth from 2010-2015.

Samdech Prime Minister has asked his Chinese counterpart PM Wen Jaiboa to provide $1,500 million finance under 16 development projects,” Hor told reporters after arrival from China, where PM Hun Sen visited for 13-17 December.

Hor added that Chinese side had accepted that plan and Chinese side also will monitor the development plans.

During PM Hun Sen’s visit, both sides inked 12 agreements for bilateral cooperation, and Cambodia gets $300 million from China, Hor said, adding that in 2010, china helps $300million.

So far, China has provided $1,100 million finance for Cambodia and even though it did not know in detail about grant aid and loan.

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