The signing ceremony under the auspices of Mr. Wu Bangguo ( seated L) and Prime Minister Hun Sen (R).By Khmerization
Source: CEN
A Chinese parliamentary delegation led by top ligislator Wu Bangguo has signed agreements to forgive $4.24 million of Cambodia's debt, provide 100 million yuans ($16 million) in aid to Cambodia and injects $6.4 billion dollars of investments into Cambodia's infrastructure, from construction to energy exploration, during a meeting with Prime Minister Hun Sen on Thursday, 4th November.
Source: CEN
A Chinese parliamentary delegation led by top ligislator Wu Bangguo has signed agreements to forgive $4.24 million of Cambodia's debt, provide 100 million yuans ($16 million) in aid to Cambodia and injects $6.4 billion dollars of investments into Cambodia's infrastructure, from construction to energy exploration, during a meeting with Prime Minister Hun Sen on Thursday, 4th November.
Mr. Khieu Kanharith, Cambodia's Minister of Information, said the $4.24 million dollars of cancelled debt was due for repayment this year. He said the two parties signed 16 memorandums of understanding covering 23 investment projects to be completed in 2010-2015, including the constructions of national highways, railway lines, bridges, seaports and information systems.
Mr. Kanharith said China had also announced that it is providing 100 million yuans ($16 million) in aid to Cambodia and promised to buy Cambodian rice, corns and cassava.
Earlier, it was reported that China is expected to cancel $200 million of debt, but the debt cancellation falls short of expectation.
Earlier, it was reported that China is expected to cancel $200 million of debt, but the debt cancellation falls short of expectation.
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