Xinhua News Agency | Sat,2016-02-20
PHNOM PENH, Feb. 19 (Xinhua) -- Thailand on Friday signed up to provide a loan of 928 million Thai baht (26.5 million U.S. dollars) to Cambodia for the construction of Stung Bot border crossing facilities, according to a statement released by the Cambodian side.
The loan agreement was inked in Phnom Penh between Vongsey Vissoth, secretary of state at the Cambodian Ministry of Economy and Finance, and Newin Sinsiri, president of the Thailand's Neighboring Countries Economic Development Cooperation Agency.
"The concessional loan will be used to construct buildings, roads, warehouse, container terminal, and flood protection system at new Stung Bot border checkpoint in Cambodia's Banteay Meanchey province on the border with Thailand's Sa Kaew province," the statement said.
"The new border checkpoint will facilitate the flow of trade, goods transport and travel between the two neighboring countries," it said.
The loan was born from a fruitful meeting between Cambodian Prime Minister Hun Sen and Thai Prime Minister Prayut Chan-o-cha in Bangkok last December, the statement said.
To date, the Thai government has lent a total 86.3 million U.S. dollars in three projects to Cambodia, it added. Enditem
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