Cambodia Receives US$31M from Mekong-Lanchang Cooperation

Cambodia has received US$31 million from the Mekong-Lanchang Cooperation (MLC) Special Fund to support 80 development projects, including infrastructure, according to HE Prak Sokhon, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation.

In celebration of “Mekong-Lan Chang Cooperation Week 2023”, HE Prak Sokhon stated that the MLC Special Fund has responded to the practical development needs of people in the region.

“The positive results of projects implemented under the MLC Special Fund have also responded to the practical development needs of our people in the MLC region. For its part, Cambodia has benefited from 80 Special Fund projects amounting to US$31 million,” HE Prak Sokhon stated.

He continued “The diverse range of cooperation activities covered areas such as rural development, poverty alleviation, water resources, agriculture, air connectivity, health, education, tourism, cultural heritage preservation, and women’s empowerment. Cambodia plans to focus on the prioritized development areas, building on the substantial achievements of the previous plan, as it begins to implement the new MLC Plan of Action (2023-2027).”

The MLC is a sub-regional cooperation mechanism among six countries in the Mekong sub-region, including Cambodia, China, Laos, Myanmar, Thailand, and Vietnam. The MLC aims to promote cooperation in various fields, such as connectivity, production capacity, cross-border economic cooperation, water resources management, agriculture, and poverty reduction.

 

- Video Advertisement -

Related Post

ADB Commits USD 403 Million to Catalyse Cambodia’s Development Across Six Strategic Sectors

The Asian Development Bank (ADB) has approved USD 403 million in loans and grants to support six transformative development projects in Cambodia, focusing on education, gender equality, business, water management, and rural development. This commitment, announced by ADB Country Director Ms Jyotsana Varma during a signing ceremony on 17 December 2024, aligns with the ADB’s […]

Chinese Investors Commit USD 2 Billion to Transform Kampong Speu Province

Chinese investors have pledged a transformative USD 2 billion investment into Kampong Speu Province, aiming to invigorate its economy, expand manufacturing capacity, and create approximately 30,000 job opportunities. This landmark announcement was made by HE Cheam Chansophoan, Governor of Kampong Speu, during a high-profile visit to Hong Kong on 21 December 2024. This significant financial […]

SHV Port Achieves Record 1 Million TEUs, Cementing Its Role as a Regional Trade Hub

Sihanoukville Port has reported a record-breaking 1 million  TEUs (twenty-foot equivalent units) of container traffic in 2024, reflecting an impressive 29% increase compared to the previous year. This milestone underscores the port’s strategic importance in driving Cambodia’s trade and logistics ambitions, as announced on the official website of Sihanoukville Autonomous Port on 21 December 2024. […]

Cambodia’s Business Landscape Faces Dual Trends: Drop in New Registrations 17%, Surge in Eliminations 32%

Cambodia’s entrepreneurial environment is undergoing a marked shift, with the Ministry of Commerce reporting 9,530 new company registrations in 11 months of 2024. This figure represents a decline of 17.17% compared to the same period last year, highlighting growing challenges in the business sector. Concurrently, company eliminations surged by 32.78%, totalling 1,284 businesses removed from […]

France’s USD 192.2 Million Boost for Cambodia’s Water Infrastructure Sets a New Benchmark

The French government has pledged a remarkable USD 192.2 million to transform Cambodia’s water infrastructure, focusing on two major projects: the rehabilitation of the Stung Svay Chek reservoir and the third phase of the Bak Kheng water treatment plant. This monumental agreement was formalised on 18 December 2024 by Cambodia’s Minister of Economy and Finance, […]

Cambodia Raises USD 70 Million Through Government Bonds in Nine Months of 2024

In nine months, the Cambodian government raised approximately USD 70 million through the sale of government bonds to domestic investors in the first nine months of 2024. This achievement, which represents 65% of the legally allowed issuance limit of 440 billion riels, underscores the country’s commitment to strengthening its domestic funding mechanisms and reducing reliance […]