A Change of Guard

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Friday, 29 May 2009

China pledges $712 million in concessional loans to Cambodia

Source: Deum Ampil newspaper
Reported in English by Khmerization

China has pledged $712 million in concessional loans to Cambodia for the developments of 11 projects, reports Deum Ampil.

The Chinese pledges were announced by Cambodia's Minister of Finance after the return trip from China on 29th May.

Cambodia had originally applied for $1,300 million ($1.3 billion) in concessional loans to develop and upgrade 11 projects, but China had only agreed to lend only $712 million.

Spokesman for the Ministry of Finance said that the Chinese loans were pledged during a visit of Mr. Aun Pornmonirath, Cambodia's Secretary of State of the Ministry of Finance, to China recently.

11 comments:

Anonymous said...
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Anonymous said...
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Anonymous said...

Hello,

Lots of money…
I don’t want to sound pessimistic or anything on this loan but $712 mm is a lot of money.
"China has pledged $712 million in concessional loans to Cambodia for the developments of 11 projects". Hmmmmmm! I wonder how many bridges, how many miles of roads, schools, and hospitals can the Cambodian government be able to build or help the poor with this loan. I have a feeling that the money will be gone as soon as they get it from the Chinese government. And the rich get richer and the poor is always getting poorer in Cambodia.

Suggestions: The government should uses this money to build housing for the poor, provide vocational job training, provide scholarship to student, build water treatment plant, build sewage treatment plant (What I called the government should used this money to build Cambodia >>>Infrastructure because it is very important to a country’s economy and the well-being of the people).

Anonymous said...

Lots of money…
I don’t want to sound pessimistic or anything on this loan but $712 mm is a lot of money.
"China has pledged $712 million in concessional loans to Cambodia for the developments of 11 projects". Hmmmmmm! I wonder how many bridges, how many miles of roads, schools, and hospitals can the Cambodian government be able to build or help the poor with this loan. I have a feeling that the money will be gone as soon as they get it from the Chinese government. And the rich get richer and the poor is always getting poorer in Cambodia.

Suggestions: The government should uses this money to build housing for the poor, provide vocational job training, provide scholarship to student, build water treatment plant, build sewage treatment plant (the government should used this money to build Cambodia >>>Cambodia’s infrastructure because it is very important to a country’s economy and the well-being of the people).

Anonymous said...

don't wonder, you will see where the money go to!!!!!!!!!!!!!!!!!

Anonymous said...

Where? if I may ask.

Thanks

Anonymous said...

in someone or somebody pockets and that someone or somebody is the CPP officials.

Anonymous said...

12:59pm, very good suggestion. I am concerned of the level of debts that Hun Sen will leave for the next generations to repay. If these money are spent wisely and lots of infrastructures are built, then it is not too bad. What i worry is the money will go to Hun Sen and his CPP cronies.

Anonymous said...

yes, I agree on that. The money will be gone as soon as the check arrive from the Chinese. As I wrote in my suggestion that the government should used the money to build Cambodia's infrastructures (namely water treatment plant, sewage treatment plant, highway that connect province to other province, rebuild all the bridges, schools, hospitals, and lastly, powerplant so that Cambodia doesn't need to buy electricity from Vietnam or Thailand.

Thanks
Jayavaraman VII

Anonymous said...

Good suggestion Jaya. But Hun Sen and his cronies never think about Cambodia and Khmer people much. He thinks about his families, cronies, moeny and power more than anything else. It's your children and mine who will have to work hard to repay Hun Sen's debts. And these loans would certainly disappear into his and his corrupt cronies' pockets.

Anonymous said...

Dear friend,

I agree with you on the first paragraph. On you second paragraph about repaying debt; sorry, I don't live in Cambodia so I am under no obligation to Hun Sen's debts. I pay my personal taxes to the U.S Federal goverment and Massachusetts's state income tax. In which I am very proud to do because I know my tax money go to help the poor in all 50 states, rebuild schools, roads, and others.

Thanks
Jaya