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Wednesday, February 1, 2012

China's aid contributes greatly to Cambodia's economic growth

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China's aid contributes greatly to Cambodia's economic growth

Updated: 2012-02-02 10:34
PHNOM PENH - Cambodia's Prime Minister Hun Sen said Wednesday the country's strong economic growth in past years owes a great deal to China's steady technical and financial assistance. 

The premier made the remarks during a meeting with Li Ruogu, visiting chairman and president of the Export-Import Bank of China, said prime minister's spokesman Eang Sophalleth. 

The country's economic growth last year was 6.9 percent and is estimated at 6.5 percent this year, said the Finance Ministry. 

Hun Sen said at present Cambodia is the weakest among all ASEAN member states in terms of infrastructure development and asked Li to consider financing about $500 million for Cambodia's seven infrastructure and irrigation projects in 2012. 

"All the proposed seven projects are hugely important to develop Cambodia's economy, tourism and agriculture," he said. 

On his part, Li said China would help finance these projects for Cambodia. 

He said during his visit here he would sign three agreements with Cambodia to finance the country for two road construction projects and one irrigation system project.

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