A Change of Guard

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Tuesday, 11 December 2012

Mekong ministers review regional investment framework

PHNOM PENH, 11 December 2012 (The Cambodia Herald) - Ministers from the Greater Mekong Subregion are reviewing a regional investment framework at a two-day meeting that opened in the southern Chinese city of Nanning Tuesday, the Asian Development Bank said.

In a statement, the ADB said investment projects worth at least $9 billion had already been identified.

The framework endorsed by GMS leaders last year is expected to formulate investment and non-lending projects based on sector assessments and country needs.

Multisectoral second generation projects include urban development along existing transport corridors, better road, rail and sea links as well as building up national power grids. They also include food-handling guidelines, sustainable tourism, environmental planning and management along with human resource development.

"These investments should help GMS countries transform transport corridors into economic corridors," the statement said.

The ADB said it recently approved $37 million for corridor town development in Cambodia and $41 million for similar projects in Laos.

"Meanwhile, headway is already being made on institutional issues as well, with progress on the establishment of the Regional Power Coordination Center and the Greater Mekong Railways Association," it said.

The ADB said the GMS program had invested about $15 billion in roads, airports, railways, power facilities, tourism and communicable disease prevention since 1992 with the bank's share totaling more than $5 billion.

The GMS comprises Cambodia, China, Laos, Myanmar, Thailand and Vietnam.

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