News

Gov’t to spend $8.2 billion this year

The government will spend more than $8 billion and take out $2 billion in foreign loans this year, according to the 2020 National Budget Law, which was made public on Tuesday after being signed off by King Norodom Sihamoni. The government will spend some $8.196 ...

Mech Dara
https://www.phnompenhpost.com/national/govt-spend-82-billion-year

Cambodia gets $118M in sovereign loans from AFD

Agence Francaise de Developpement (AFD) has provided Cambodia with a sovereign loan of 118 million euros ($121 million) for two projects – one to build the Bakheng water treatment plant and another to develop competitive skills. Minister of Economy and Finance Aun Porn Moniroth who ...

Ry Sochan
https://www.phnompenhpost.com/national/cambodia-gets-118m-sovereign-loans-afd

As Foreign Aid Increases, Questions About Conditions

Cambodia has seen huge growth of foreign aid and loans over the past two decades, but experts are beginning to question its worth—and what conditions might be attached. Total aid from 1993 to 2012 amounts to around $10 billion, with the percentage of aid coming as ...

http://www.voacambodia.com/content/as-foreign-aid-increases-questions-about-conditions/1664821.html

Donors Criticize Sonando Sentence

Three of the Cambodia’s most important donors have now condemned the 20-year jail term handed down to independent radio station owner Mam Sonando for alleged insurrection activities-a verdict branded as politically motivated by many local and international human rights groups. Despite the tough words from the normally very ...

Hun Sen Asks China for Loan to Build New Road

Prime Minister Hun Sen said yesterday that he has requested a $140 million loan from China to build a 190 km road that would branch off National Road 5 and allow easier access to Thailand. The request comes just one month after Mr. Hun Sen returned ...

Gov's to Lay More than 400 Km of Fiber-Optic Cable

With a loan from Japan, the government will begin laying more than 400 km of fiber-optic cable early next year to connect Phnom Penh with five provinces, the Ministry of Post and Telecommunications (MPTC) said yesterday. Telecommunication Minister So Khun said the cable-which will connect Phnom Penh with ...

Koomkin bank takes Camko City to court

The foreign commercial arbitration case between South Korean Kookmin Bank and World City Asset Management and World City, two real-estate development firms, has been received by the Cambodian Court of Appeals. World City Asset Management received a loan from Kookmin bank in Korea in 2007 to ...

http://www.phnompenhpost.com/index.php/2012092058819/Business/kookmin-bank-takes-camko-city-to-court.html

Changing a culture of impunity

Despite the recent spate of high-profile arrests and deportations, analysts, attorneys and civil society groups are divided on whether the Kingdom is finally beginning to live down its reputation as a haven for the fugitives and criminals who have long been drawn to the country ...

http://www.phnompenhpost.com/index.php/2012091958800/National-news/cambodia-is-not-the-criminal-haven-it-once-was.html

Cambodia Says No Strings Attached in Recent Chinese Aid

China has done a lot to support Cambodia over the years, with millions of dollars in aid, loans and investment. But after reports last week that China has pledged another $500 million in soft loans and grants-and publicly thanked Cambodia for its support in Southeast ...

Acleda takes out $10 Million

Acleda Bank has signed a $US10 million loan agreement   with Proparco, a development finance institution held in part by the Agence Francaise de Développement (AFD), according to a statement released on Wednesday. With the Kingdom’s financial sector expanding rapidly and a growing demand for banking and ...

http://www.phnompenhpost.com/index.php/2012090758553/Business/acleda-takes-out-10m-loan.html

Officials deny arrest has links to new loans

The rumour mill has been in overdrive regarding the arrest of The Pirate Bay co-founder Gottfrid Svartholm Warg; however, various government officials yesterday shunned the conspiracy theories. Tom Abrahamsson, head of administrative and consular matters at the Swedish Embassy in Phnom Penh, refuted speculation that Svartholm ...

http://www.phnompenhpost.com/index.php/2012090758558/National-news/officials-deny-arrest-has-links-to-new-loans.html

Soft loan from Sweden

Sweden loaned Cambodia US$57 million yesterday for economic country development and cooperation for the duration of 2012-2013. The agreement was made between Cambodia’s Economic Minister Keat Chhon and Swedish ambassador to Cambodia Anne Hoglund at the Council for the Development of Cambodia (CDC) yesterday morning. Keat Chhon ...

May Kunmakara
http://www.phnompenhpost.com/index.php/2012090658528/Business/soft-loan-from-sweden.html

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 ...

$70 from India for power

India is financing the construction of a US$70 million transmission line to bring electricity from hydroelectric projects in Laos to Cambodia, according to Indian Chamber of Commerce President Debasish Pattnaik. Speaking yesterday after the official launch of the Indian Chamber of Commerce in Cambodia (ICC), Pattnaik ...

http://www.phnompenhpost.com/index.php/2012090358436/Business/70m-from-india-for-power.html

Bank to study loan possibilities for rice

Delegates from the Import-Export Bank of China will visit Cambodia next week to discuss loans for the rice-processing and exporting sector, according to government officials. Son Kunthor, president of the state-owned Cambodian Rural Development Bank, said yesterday that Chinese delegates will come to study the feasibility of ...

http://www.phnompenhpost.com/index.php/2012081457965/Business/china-bank-to-study-loan-possibilities-for-rice.html

Cambodia To be Free from ODA in 2030

Deputy Prime Minister and Minister of Economy and Finance H.E. Keat Chhon announced that Cambodia would be free from the Official Development Assistance (ODA) by 2030. Speaking to the U.S. Ambassador to Cambodia H.E. William E. Todd in a discussion at the ministry yesterday, H.E. Keat ...

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