Aid and development

The economy will grow at a rate of 6.9 percent in 2018, according to the latest report from the World Bank. Other international financial institutions have issued similar forecasts this month, with the Asian Development Bank (ADB) and the International Monetary Fund (IMF) putting national ...

Cambodia’s economic outlook remains positive and the economy is forecast to grow at a robust 7 percent this year and next year, according to a report released by the Asian Development Bank (ADB) on Wednesday. Growth in exports, strong foreign direct investment, growing tourist arrivals ...

Financing has been secured for key road reconstruction projects in Cambodia. Work is being carried out on six road projects in the country that measure a total of 600km, as well as a bridge, with this all costing some US$490 million. A loan of $94 ...

Six countries pledged to enact $66 billion worth of projects over the next five years at the Greater Mekong Subregion (GMS) Summit in Hanoi on Saturday, with Cambodia-specific projects scheduled to receive the least amount of funding of any participant. ...

The UN Food and Agriculture Organisation (FAO) is forecasting that 44 percent of Cambodia’s total rice exports will be smuggled out of the country through informal channels this year, a persistent problem that weighs down profits and threatens to cripple the industry. ...

Cambodia should continue to see steady economic growth at about 7 percent this year despite potential investor caution that could arise ahead of July’s national election, officials from the Ministry of Economy and Finance (MEF) said on Wednesday. ...

Prime Minister Hun Sen yesterday announced that Japanese Foreign Minister Taro Kono will visit Cambodia soon to sign an aid agreement, dismissing reports that the Japanese would pressure him to negotiate with former CNRP officials. ...

Construction on a new tourist ferry port located about 6 kilometres from the provincial capital in Kampot province has been delayed, although a Tourism Ministry spokesman promised that construction would begin before the end of this year. ...

China’s financing of Belt and Road Initiative projects in Cambodia could lead to increased debt distress, according to a recent analysis, though the Kingdom’s low overall debt makes it unlikely to default in the near future. ...

The United States Senate has passed a $1.3 trillion spending bill that looks to cut funding for Cambodia unless it releases all political prisoners and reinstates the opposition Cambodia National Rescue Party. The passage of the omnibus bill on Friday, which averts a US government ...

The Asian Development Bank (ADB) is planning to establish a new $60 million program focused on developing local technical skills and increasing the competitiveness of Cambodia’s labour force in 2019, according to Minister of Labour Ith Sam Heng. ...

Cambodia reiterated the important role Australia plays in the development of its agriculture sector and urged leaders of the Commonwealth nation to support the modernisation of the industry through investments in modern factories and machinery. ...

The Asian Development Bank’s recent announcement of $40 million in funding for Cambodia marks the first funds from the Green Climate Fund that were earmarked for the Kingdom, according to ADB officials. ...

The government of South Korea will help to build a Cambodia-Korea Friendship Bridge across the Mekong River in the future, according to a statement from the Foreign Affairs Ministry yesterday. The announcement came after a meeting on Friday between Foreign Minister Prak Sokhonn and newly-appointed ...

The Asian Development Bank has announced an additional $30 million in grants and $10 million in loans to Cambodia as part of the organization’s Green Climate Fund. ...

Japan agreed to provide $384,817 in financial assistance to local organisations for projects in Phnom Penh, Kandal, Kampong Chhnang and Koh Kong. ...

Prime Minister Hun Sen and tax chief Kong Vibol accused the US of lying about cutting assistance to Cambodia, claiming that one of the programs on the chopping block hasn’t existed since 2016. In a speech to garment workers in the Sihanoukville SEZ on Saturday, ...

The Ministry of Environment and Japan will today sign a $600,000 agreement on forest conservation for a period of three years in the Prey Lang forest, which spans four provinces. The project will focus on forest conservation, legal strengthening and community forestry development, according to a ...

The Cambodian government expressed “dismay” yet remained defiant yesterday in the face of a US decision to cut aid to the Kingdom in response to its ongoing political crackdown, saying it would not comply with demands to restore the forcibly dissolved opposition CNRP. In a statement, ...

The German embassy in Cambodia is cooperating with the government to assist in rural development.According to a press release from the German embassy issued yesterday, more than 2,500 kilometres of roads, 88 bridges, 48 schools and 11 markets have been built across the country with ...

The White House is cutting aid to several assistance programs in Cambodia due to “recent setbacks to democracy”, it announced late Tuesday. Some programs supporting Cambodia’s Tax Department, military and local government will be cut or reduced “to ensure that American taxpayer funds are not being ...

The Indian government has contributed $50,000 to the Khmer Rouge tribunal’s annual budget requirements.Neth Pheaktra, spokesman of the Extraordinary Chambers in the Courts of Cambodia, said yesterday that India gave $50,000 to the national side of the tribunal for its operations in 2018. ...

China’s Ministry of Defence yesterday provided 24 kinds of medical equipment to the state-run Preah Ket Mealea military hospital to support heart and blood treatments. During a ceremony in Phnom Penh, Lieutenant General Ly Sovan, director of Preah Ket Mealea Hospital, said the hospital has often ...

Amid widespread international condemnation of Cambodia’s upcoming elections, Japan pledged an additional $7.5 million worth of equipment for the July polls this morning. The grant, signed by Foreign Affairs Minister Prak Sokhonn and Japanese Ambassador Hidehisa Horinouchi, will provide “ballot boxes as well as other ...