President Lee Myung-bak, left, is welcomed by Cambodian King Norodom Sihamoni, in Phnom Penh, Cambodia, Thursday. Lee pledged that South Korea will provide a total of $200 million in loans to the nation over the next four years to help its economic development. (Korea Times photo by Sohn Yong-seok)10-22-2009
By Na Jeong-ju
Staff Reporter
Korea Times
President Lee Myung-bak pledged Thursday that South Korea will provide a total of $200 million in loans to Cambodia over the next four years to help its economic development.
He also said Korea will represent the interests of developing Asian countries at global forums, including the G-20 Summit, which Korea is set to host next November, for balanced global growth.
Lee made the promises during an interview with Cambodia's largest-circulation newspaper, the Rasmei Kampuchea, last week in Seoul.
Lee arrived in the Cambodian capital of Phnom Penh, the second stop on his three-nation, six-day Southeast Asian trip, from Vietnam.
Upon arrival, Lee visited Cambodian King Norodom Sihamoni for talks on bilateral economic cooperation. In the afternoon, he held a summit with Prime Minister Hun Sen on increasing economic and cultural exchanges.
"President Lee and King Sihamoni agreed to expand cooperation on various fields, including the agricultural and cultural sectors," Cheong Wa Dae said.
"Underlying the rapid development of Korea-Cambodia relations since the normalization of their ties in 1997, Lee hoped there will be stronger bilateral cooperation."
During his meeting with Hun Sen, Lee asked for the support of Korean firms seeking to participate in Cambodia's infrastructure development projects.
Lee also asked him to play a role in strengthening ties between Korea and ASEAN - a 10-member economic bloc including Cambodia.
On the sidelines of the summit, the two governments signed an agreement, which will provide South Korean firms with 200,000 hectares of land - almost the same land area as Jeju Island - for forest plantation.
Seoul has increased its Economic Development Cooperation Fund to finance economic development programs in poor countries.
He also said Korea will represent the interests of developing Asian countries at global forums, including the G-20 Summit, which Korea is set to host next November, for balanced global growth.
Lee made the promises during an interview with Cambodia's largest-circulation newspaper, the Rasmei Kampuchea, last week in Seoul.
Lee arrived in the Cambodian capital of Phnom Penh, the second stop on his three-nation, six-day Southeast Asian trip, from Vietnam.
Upon arrival, Lee visited Cambodian King Norodom Sihamoni for talks on bilateral economic cooperation. In the afternoon, he held a summit with Prime Minister Hun Sen on increasing economic and cultural exchanges.
"President Lee and King Sihamoni agreed to expand cooperation on various fields, including the agricultural and cultural sectors," Cheong Wa Dae said.
"Underlying the rapid development of Korea-Cambodia relations since the normalization of their ties in 1997, Lee hoped there will be stronger bilateral cooperation."
During his meeting with Hun Sen, Lee asked for the support of Korean firms seeking to participate in Cambodia's infrastructure development projects.
Lee also asked him to play a role in strengthening ties between Korea and ASEAN - a 10-member economic bloc including Cambodia.
On the sidelines of the summit, the two governments signed an agreement, which will provide South Korean firms with 200,000 hectares of land - almost the same land area as Jeju Island - for forest plantation.
Seoul has increased its Economic Development Cooperation Fund to finance economic development programs in poor countries.
6 comments:
Hun Sen keeps borrowing money from other Countries around the world , some go to the development and some go to his CPP pockets . None of us know how much Cambodia owes the world right now and how we are going to pay it back .
i know 10 percent for development 75 percent for hun xen 15 percent go to PUOK AH CHAI ROBOH HUN XEN!
I would like to see this money be in good used. $200Millions,mmmm hopefully;
$50Millions goes toward buying machineries and different crops for reproducing as well as it will generate good income returns and at the same times, people don't have to work so hard anymore because it will all be done by machineries. All they will need to do is preparing for export that never runs out. e.g. One tone of rise can reproduce up to 100 tone of rise as well as knowing how to maintain the irrigation systems, everything will be alright, from here, both old and young generations will be safe and sound
Another $50Million goes to building extra housings, parks, lakes, schools, hospitals, universities etc. As they can generate incomes from collecting rents, school fees, hospitals fees, universities fee and again it will generate incomes that will never end ing.
Another $50Millions goes to new construction of Roads, ‘where there is a road; there will always be a way’! Collecting. e.g. cars or motor bikes registration fees, again it will generate incomes that never runs out.
The finally, $50Millions should go to, making sure all the people can have access to clean water, self generated electricity and maintaining the waste systems (collecting the rubbish and dump in an appropriate place specifically away from families and friends, where it can be recycle them in a way that the whole country can be hygienically clean just like Sigapore) , because these are the main factors affecting individuals life. Again, you can collect fees from these, so, both water usage and electricity fees will generate incomes that never run out too.
Conclusion: From the above spending, it shows that we can benefit from the way we spend the monies as it provides a continuing incomes security for our nation as a whole. Therefore, please use the monies wisely or otherwise it will go into correction and benefit no one. So, please do the right things, for the righteous will live forever and wicked will be terminated. Oh, by the way as for the loan, ask for interest free if they really want to help the poor people and for the repayment ask them, if we can pay according to what we have or what we can generated e.g. the loan will be paid in small amount e.g $100,00 a year for the next 200 years etc. Aust
I mean 'otherwise it will go into corruption and benefit no one...
All of us here sure like our country Cambodia, but in different ways. For a constructive critics, you should advise the government, by giving your own master planing or good proposal, how the Cambodian government will use this money.
Just said corruption is not the way to resolve the problem in our country.
4:02Pm ! Do ah Kwack open up what's he have done and what's he will do?
Do ah kwack not put the New man in jail because he just critic about lightning inAnkor watt?
Motherfucker need to step down and let thelawsrule the country!
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