Phnom Penh
22 May 2008
The World Bank announced Thursday it would provide Cambodia $41.5 million in renewed funding to help it fight poverty for strategies planned from 2007 to 2011.
The funding was approved after a review found a relevance for the strategies in improving governance and development, the World Bank said.
Cambodian People’s Party lawmaker Chiem Yeap, chairman of the National Assembly’s finance and banking committee, welcomed the World Bank money, saying Cambodia needs a larger budget to fight poverty.
Cambodia’s poor number almost 4.8 million, and 90 percent of them live in rural areas, where they depend on agriculture using traditional, unproductive methods.
In June 2006 the World Bank suspended the government’s rights to funds for three project.
The funding was approved after a review found a relevance for the strategies in improving governance and development, the World Bank said.
Cambodian People’s Party lawmaker Chiem Yeap, chairman of the National Assembly’s finance and banking committee, welcomed the World Bank money, saying Cambodia needs a larger budget to fight poverty.
Cambodia’s poor number almost 4.8 million, and 90 percent of them live in rural areas, where they depend on agriculture using traditional, unproductive methods.
In June 2006 the World Bank suspended the government’s rights to funds for three project.
4 comments:
Those who steal from poor Cambodian, may your children and grand children be suffered like us!
cambodian citizens have the rights to be concern about corruption. remember to have transparency, accountability and chech and balance in order to ease this type of concern by all cambodians from all walks of life. please don't just hand the money, make sure to ask for grass-root evidence of the work in progress. this goes with any political group as anyone is not clean of corruption. i don't care even the most trustworthy group is still corrupted. corruption is the reality of life and not just cambodia, even ngo can be corrupted as well as donors. so, nobody is immuned to corruption. that why it take a lot of check and balance to do everything anywhere, and cambodia is no exception. thank you and god bless cambodia.
having said that, cambodia will take time for everything to comes in place; i don't think anybody can do everything overnight. even democracy take two or three hundred years to get this far, and for cambodia to achieve any degree of cooperation in such a short period of time is something to be proud of already, although more works needed to be done still. thank you.
i think democracy has already established its roots in cambodia; and now the world community can help to nurture it along the way like raising a small child and the child will grow up to be a member of a productive society and even better becomes someone important to the whole world. everyone has to start somewhere. and thanks for seeing the potential in cambodia. god bless.
$41 million That's going to buy a lot of hummers lexus and hennesy
4"20AM Car and plane and all luxury item in the house need hundred of years to develop too!
Why the crook can copy it and buying it to use right away? What about democracy that They give it fo free and willing to train it and you need 100 years to develop your Hanoi's PHD brain?
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