China Gives $523M, Thanks Cambodia for Asean Help
Prime Minister Hun Sen returned home yesterday from a quick trip to Beijing with the promise of some $523 million in new loans and grants, one day after Chinese Prime Minister Wen Jabao praised Cambodia for helping China maintain “friendly relations” with Asean. … Speaking with reporters at Phnom Penh International Airport upon Mr. Hun Sen’s return from his meeting with Mr. Wen, Finance Secretary of State Aun Porn Moniroth said the new loans came at Cambodia’s request for unspecified infrastructure projects. There are about $500 million in loans from the Chinese government for seven projects. Four of the projects have already been signed for $420 million, Mr. Moniroth said. He said that Mr. Hun Sen returned with a grant of 150 Chinese yuan ($23.7 million) to spend any way the prime minister sees fit. …
