PHNOM PENH, Dec. 13 (Xinhua) -- The Japanese government has pledged to provide 100 million U.S. dollars of concession loan each year for Cambodia to facilitate its poverty reduction efforts, said Prime Minister Hun Sen here on Thursday.
The loan will be increased by one third on annual basis and the interest rate will keep as low as 0.01 percent, he told the construction ceremony of counter-flood facilities on the Tonle SapRiver bank in Phnom Penh.
Cambodia will pay it back in 40 years, he said, without giving other technical details of the loan.
"I urge the Cambodian government officials and the Japanese experts here to quickly take the loan to help and develop the poverty reduction projects," he added.
The loan deal was reached by both parties while Hun Sen paid his recent visit to Singapore to attend the ASEAN (the Association of Southeast Asia Nations) meetings.
International institutions have put the poverty rate of the kingdom at 35 percent.
The loan will be increased by one third on annual basis and the interest rate will keep as low as 0.01 percent, he told the construction ceremony of counter-flood facilities on the Tonle SapRiver bank in Phnom Penh.
Cambodia will pay it back in 40 years, he said, without giving other technical details of the loan.
"I urge the Cambodian government officials and the Japanese experts here to quickly take the loan to help and develop the poverty reduction projects," he added.
The loan deal was reached by both parties while Hun Sen paid his recent visit to Singapore to attend the ASEAN (the Association of Southeast Asia Nations) meetings.
International institutions have put the poverty rate of the kingdom at 35 percent.
19 comments:
Our beloved Samdach Hun Sen will use this money for building our beloved country 30 persents and the rest to his beloved pockets.
Cambodians will be the slaves to the Japanese for many generations to come.
More money to fatten Cambodians in all levels.
Money that tooks into corupted peoples will be spent in some ways. The more they stole the more they spent food, drink and lands.
Keep doing it. It is not going to last forever.
ECCC is waiting for you
For 0.01% of interest, you 're kidding? Well, we can stay poor and be miserable for a long time , if not forever or take the loan and try to make something good out of it. Our government can use some of those money to hire smart financial advisers to help out. 100 millions a year are a lot! Get some good bussiness from outside.A potential good bussinesses that we can earn excellent return, but hire our own people or our new college graduates to do the job. That would be so cool. Thank you Japan! & God Bless!!!
Ordinary Khmers
How about all loans are to be published publicly? So that everyone will know where they are going. That probably will not happen with our current government or will it?
OK
This attention needs to get to the Sam Rainsey Party and now!
Oh, shut the fuck up, Mee Chkout (Socheata). Japan always monitors they aids and loans closely. If they even suspect of anyone clipping it, that will be the end of all aids and loans.
In 4 years that loan (100M or more annually) will be enough to finance a hydrolic power plan of 400 MW. Please start to think about. Cheap electricity for our peoples will make excellent contribution to poverty reduction.
SRP should show it stance on the principal of INDIVIDUAL RIGHT too!
Why it let Mam Sonando walk all over its right of speak and said it acceptable?
dO IT INTENDED TO DO THE SAME SOME DAY, CONTROL THE FREE OF SPEACH?
CPP USE KHMERE ROUGE TACTIC TO MAKE PEOPLE GO AGAIN PEOPLE! gOVERMENT SHOULD RESPONSIBLE FOR THE RIGHT OF ALL CITIZEN! NOT LET ONE PERSON VIOLET ANOTHER!
We don't have any problem with rights. We only have problem with jobs, jobs, jobs.
Don’t fool yourself with all the artificial economic growth in Cambodia! Any Cambodian economic growth will create ripple effect through out Cambodian economy! The growth in Cambodian economy will create demand in goods and services which will translate into job creation! How is it possible that Cambodia has double digits economic growth for many years and yet majority of Cambodian workers can’t find a fucken job? What is going on here unless somebody is lying about Cambodian economic growth!
Expansion in economy = Expansion in job market! This is economic 101!
I never understand why Ah Hun Sen government kept throwing money at the problems! AH Hun Sen never once make an effort to solve the core problems such as CORRUPTION that is killing Cambodian population!
There is a saying! Easy money comes and easy money goes! Since AH HUN SEN didn't have to sweat and blood for the money and so he will never understand the real value of money and he will always misplace and misspend the damn money in all kinds of corruption scheme to prolong his political power!
Over the years, I have yet to see the money loan from the world make any impact on Cambodian poverty!
More Money = More Corruption = No Corruption law!
We need this money to improve many hospitals to a high standard intead of travelling to Vietnam hospitals. Can't government see what is the higher priority?
LOL, if our economic growth is artificial, then the world must be blind.
Anyway, in term of job the problem is population growth. Right now we are only creating jobs that matched our population growth. Thus, those who can't compete effectively will still be out of job for a while longer. However, our economic growth is exponential; hence, in about 8-10 years, we will be creating jobs that exceeded our population growth. Keep in mind, people in developed countries only have two kids on an average, but he have a lot more than that. Thus, this is quite a challenge for us to overcome.
To 12:21AM Bonehead!
I heard that before and there is still no job for dirt poor Cambodian people!
Can dirt poor Cambodian people afford not to get a fucken job to put food on the table for 8-10 years as you said?
There is no challenge for all you fool and there is only corruption! Cambodia can’t afford to have the kind of society where half of the population have and the other half have not!
Come on, dude, if people want jobs quicker, they should have to ease up on babies manufacturing, and you know it too.
However, in any case, they will be alright by 2016 as we will produced surplus jobs.
LONG AS NATURAL RESOURCE HAS IN CAMBODIA....JAPAN ALWAYS GIVE LOAN TO HUN SEN....BUT..U AND U VOTE FOR HIM...U ...AND U..LIVE WITH IT...OK...OR ELSE..STOP VOTING FOR HIM OK.....BEFORE YUON...LIVE ALL OVER CAMBODIA......AND U..AND U...VOTE HIM...ALSO SHOULD BE CALL...KBOTT CHEAT...OK....
Well, there is no free lunch.
To 1:38AM fuck you Vietcong bitch!
The Vietcong and the Thaicong have more population than Cambodia and why don't you tell them not to produce babies? If it weren't for all the illegal Vietcong in Cambodia and maybe every dirt poor Cambodian people have a job by now!
Stop playing with number! Ahahhahha
Post a Comment