(Photo: AFP)Hun Sen: Cambodia is preparing funds to prop up regional economy
23 November 2008
By Kesor Raniya
Radio Free Asia
Translated from Khmer by Socheata
Click here to read the article in Khmer
Prime minister Hun Sen declared that Cambodia will prepare funding to contribute with other 13 Asian countries to prop up the regional economy.
The idea of funding $80 billion to prop up and bring stability to the economy in the region came after a number of major countries, such as the US, are moving towards recession.
The idea was raised during the ASEAN+3 meeting (which includes China, Japan and South Korea) which was held in Beijing last month.
Hun Sen said on 21 November, during the 14th forum for the government and the private sector held in Phnom Penh that, during the 14th ASEAN meeting held in Chiang Mai, Thailand, all ASEAN countries and the other 3 partner countries will discuss about a plan to set up this major funding system.
Hun Sen said: “In the meeting which will take place soon, ASEAN+3 is looking for funds. They will bring up this issue in Chiang Mai to provide $80 billion in which 3 countries (China, Japan and South Korea) will contribute 80%, and the other 10 ASEAN countries will contribute 20%. H.E Keat Chhon had provided the choices, and I gave him my selection: Cambodia plans to contribute between 5 to 10% of its reserve fund ... so that the entire $80 billion can be funded to support this program, because if we rely on the IMF or the World Bank, it may not be sufficient, even relying on the ADB is not enough.”
Hun Sen said that officials of the ministry of Economy are actively working to complete this funding in time for the Chiang Mai meeting next month.
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KI-Media Note: According to Keat Chhon, Cambodia will contribute about $150 million to the fund.
The idea of funding $80 billion to prop up and bring stability to the economy in the region came after a number of major countries, such as the US, are moving towards recession.
The idea was raised during the ASEAN+3 meeting (which includes China, Japan and South Korea) which was held in Beijing last month.
Hun Sen said on 21 November, during the 14th forum for the government and the private sector held in Phnom Penh that, during the 14th ASEAN meeting held in Chiang Mai, Thailand, all ASEAN countries and the other 3 partner countries will discuss about a plan to set up this major funding system.
Hun Sen said: “In the meeting which will take place soon, ASEAN+3 is looking for funds. They will bring up this issue in Chiang Mai to provide $80 billion in which 3 countries (China, Japan and South Korea) will contribute 80%, and the other 10 ASEAN countries will contribute 20%. H.E Keat Chhon had provided the choices, and I gave him my selection: Cambodia plans to contribute between 5 to 10% of its reserve fund ... so that the entire $80 billion can be funded to support this program, because if we rely on the IMF or the World Bank, it may not be sufficient, even relying on the ADB is not enough.”
Hun Sen said that officials of the ministry of Economy are actively working to complete this funding in time for the Chiang Mai meeting next month.
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KI-Media Note: According to Keat Chhon, Cambodia will contribute about $150 million to the fund.
12 comments:
If Hun Sen and his associates were willing to loosen a small share of their wealth, this amount would not be impossible.
If dear Samdach said it, consider it done folks. Easy.
CPP Insider
P.S.: Don't be so dumb. Use your brains folks.
His hair is still good and black?
Same as his heart
2:12 PM
If he can dye his hair, why not his heart?
good things this amount of money is not equal to his family's belongings (www.cambohistory.blogspot.com)
And recently didn't his rich gov.t ask loan from China?
And isn't it begging more aids from foreign countries?
Who are you serving really, cpp?
You thing Cambodia country is the rich country? We just got back from pol pot regime and government working hard to find money to build khmer country up. How about you? You can't borrow nothing from anyone.
HUN SEN is going to spend his own money cause he have billion of $$$$ in the bank.
Khmer PP,
Hey, at least I'm happy in my life time I can HUN SEN will be hung in public in srok Khmer due to his treason.
Jon Kboth jeat!!
Khmer PP,
i think should do it, if those countries out there are calling cambodia "poor" or "lease developed country". we has got to live up to our name, so, why even bother to ask cambodia to contribute? i say cambodia must demand justice in this insult! god bless cambodia.
I'm deeply regret Hun Sen's decision. Cambodia is still a poor nation. Why is he doing this? He should use the funds to build roads, schools, or hospitals.
I think he is doing this to make himself LOOK GOOD!
When we Khmers are going to help one another? When are we Khmers going to put ourselves first?
Regards,
Khmer Central NY
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