Wednesday, October 21, 2009

China’s Loans for Infrastructure Improvement in Cambodia

China has agreed to provide US$853 million for physical infrastructure development in Cambodia, said Deputy Prime Minister Hor Namhong.

This assistance entail the responses to the 2008 and 2009 loan proposals from the Royal Government of Cambodia, H.E. Hor Namhong, also Minister of Foreign Affairs and International Cooperation, told reporters last Saturday upon the arrival of a high-ranking delegation led by Prime Minister Samdech Techo Hun Sen from the 10th Western China International Economy and Trade Fair (WCIETF) and a working visit in Chengdu, southwest China’s Sichuan province from Oct. 15 to 17.

With an amount of US$260 million, the 2008 proposed loans will be used to rehabilitate roads, irrigation systems, flood management and expand electricity access in rural areas and the suburban areas of Phnom Penh capital city. The remaining money from the said constructions has been considered to spend on new Chroy Changvar Bridge to reduce traffic congestion into and from the capital city through the national road number 6.

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