Cambodia to invest 2.5 bln USD to develop road system

April 25, 2007

The Cambodian government will invest 2.5 billion U.S. dollars to develop the kingdom's road system from now to 2025, an official said on Tuesday.

"Developing road system is a main factor for helping reduce poverty in this country, because people can transport their products to sell in markets. Roads will make them feel easy to travel and communicate between city and rural areas," said Sun Chan Thol, Minister of Public Works and Transportation.

The budget will also help improve transportation safety in the country, he said, while addressing his ministry's annual work review.

"We are considering to find aid and loan from the Asian Bank of Development, the World Bank and the Australian government of about 42 million U.S. dollars to facilitate the plan," he added.

During last week's Khmer New Year, some 50 people died and over 300 were injured in road accidents, which have become the third largest killer for the Cambodians after AIDS and mines, according to statistics released along the meeting.

Source: Xinhua

Cambodia releases 2,205 mln USD capital for public investment program [-Where will PPenh find the missing funds needed?]

February 18, 2007

The Council of Ministers of Cambodia approved the draft of public investment program from 2007 to 2009 with 2,205 million U.S. dollars capital on Friday, a statement from spokesman office of the Cambodian government said here on Saturday.

The money will be spent on 605 projects, including 274 top priority projects and other 331 projects, the statement said, adding the projects in 2007 is worth about 695 million U.S. dollars, in 2008 about 740 million U.S. dollars and in 2009 about 770 million U.S. dollars.

The projects are all in the plans of the national development strategy, it said.

So far, the Cambodian government and development partners have pledged 1,143 million U.S. dollars for the projects, while Cambodia still needs 1,061 million U.S. dollars, the statement added.

Source: Xinhua