PHNOM PENH (Xinhua) - The Asian Development Bank (ADB) will provide $59.4 million to Cambodia for its infrastructure improvement, trade crossing border and deals on the global financial crisis, an official said today.
"The budget will be used for improving the irrigation system, agriculture products and public infrastructures," Ieng Sophalet, spokesman to Prime Minister Hun Sen told reporters after the talks between Prime Minister Hun Sen and Vice-President of ADB Lawrence Greenwoods at the Cambodian Foreign Ministry.
"It also will facilitate the trade crossing border among the Great Mekong Sub-Region and deals on the global crisis," he added.
"The budget project will be implemented for the next two years from now," he said, adding that it is an additional budget from the ADB after it agreed to provide 194 million U.S. dollars for the next two years.
According to a statement from the ADB, resources are provided in the form of concessional loans and grants to low-income DMCs with limited debt repayment capacity for developing member countries.
"The budget will be used for improving the irrigation system, agriculture products and public infrastructures," Ieng Sophalet, spokesman to Prime Minister Hun Sen told reporters after the talks between Prime Minister Hun Sen and Vice-President of ADB Lawrence Greenwoods at the Cambodian Foreign Ministry.
"It also will facilitate the trade crossing border among the Great Mekong Sub-Region and deals on the global crisis," he added.
"The budget project will be implemented for the next two years from now," he said, adding that it is an additional budget from the ADB after it agreed to provide 194 million U.S. dollars for the next two years.
According to a statement from the ADB, resources are provided in the form of concessional loans and grants to low-income DMCs with limited debt repayment capacity for developing member countries.
6 comments:
Border crossing cost? Who are you kidding?
The Viet is free to cross the border and move in to stay, live and settle in Cambodia free of charge according to ah Hun Sen's agreement with the Viet!!!
So take $10,000,000 (ten millions) out of that and put it in the pocket of ah HUN SEN and his Viet counterparts...or better yet ah HUN SEN will have to give it all to Ah Viet/Yuon Hanoi for putting him up in power and protect and defend ah HUN SEN
to stay in power to exterminate native Khmer for the new YUON/Viet Khmer generation of the Federation of Indochina.
How's that for ah Viet-boy Hun Sen accomplishement and legacy?
Fair enough?
Yeah we call that ah HUN SEN's love of peace!!!
Just like "Buddha" - giving up for the peace of eternity (eternal peace)....oh la la! Buddha's crap!!! and the Viet commie is just going to exterminate Khmer and walk in and make themselves at home....At last ah HO CHI MINH dream comes true and ah Sihanouk got screwed...Damn shame!!!
If cpp really bad why lots countries
give him the money? I quest you want those money too and you try doing hard against the government right?
Hello 5.18 AM
We are not against Cambodian Govt, What we are saying is using loan transparently because it will never be enough for the cronies. Govt should change vision and be true to poor cambodians and for cambodians. These are low rate loan,subsequently young cambodian and the country bear that DEBT for the rest of their lives.
Please note that we still have to pay loan from the past,given by China,USA,Russia,even your brother Vietnam.
Please have a long vision ,will you?
Hi dear 5:56 am
Your idea is great,but what is loan transparency you refered? can you do something for us as Cambodian by giving us the strategic to work how to use loan trasparently? or you just say..Transparency..Transparency...but you not show us how!!...if u are in a broad, please come to Cambodia and gudie us how to work transpanrent..we need to be in action but not just saying from distance..
Khmer
simple, just tell ah HUN SEN of yours and his cronies to stop stealing the moneys donated...See, very easy!
PPU
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