China provides 73m dollars loan to Cambodia for road construction

“China Agrees To Loan $73 Million for Construction of Road to Rattanakiri”]

Phnom Penh: The Ministry of Economy and Finance has announced that the Chinese Government on 19 May agreed to provide a $73 million concessional loan to Cambodia to build the section of National Road 78 –from O Pong Moan to Banlung Town in Rotanakiri Province –which cuts through beautiful natural forest.

Deputy Prime Minister Keat Chhon, economic and finance minister, representing the Royal Government, and Zhang Jinfeng, Chinese extraordinary and plenipotentiary ambassador to Cambodia, signed the agreement on the provision of the concessional credit at the Economic and Finance Ministry on 19 May.

After the signing, Deputy Prime Minister Keat Chhon said that the inking of this framework agreement would allow the Economic and Finance Ministry to negotiate with the Chinese Export and Import Bank to obtain credit for implementing this project.

He pointed out that the project to build the 121-km long section of National Road 78, from O Pong Moan (Stoeng Treng Province) to Rotanakiri Province’s Banlung Town, would contribute to the integration of Cambodia’s interior with the region, through connecting the country’s northeastern part and plateau to its central part and to the centre of Vietnam. He also said that building this road would encourage quicker transformation of the northeastern part into the country’s new economic zone, with this National Road 78 becoming a new economic corridor for collectively serving cross-border trade, transportation, and tourism.

He also added that moreover, the building of this road would enable Cambodia to fully utilize the potentials of Cambodia’s plateau and northeastern part, through developing agriculture, agro-industry, mineral resources, and cultural and ecological tourism, with the aim of alleviating poverty and promoting economic growth through diversified economic policy. In sum, this road would become an important economic blood vessel in the near future.


You are viewing Sam Rainsy party website

, ,

  1. No comments yet.
(will not be published)
  1. No trackbacks yet.