China Grants Over USD 42m to Boost Cambodia’s Infrastructure Development

• Sommana Yan
• 12 October 2024
• Uncategorized
• 1831 Views

To Cambodia’s infrastructure development, China has pledged 300 million yuan (approximately USD 42 million) in grants. This commitment, aimed at advancing Cambodia’s infrastructure, was confirmed during a bilateral meeting between Cambodian Prime Minister Hun Manet and Chinese Prime Minister Li Qiang at the 44th and 45th ASEAN Summits in Vientiane, Laos. The pledge reflects China’s ongoing dedication to supporting Cambodia’s economic growth and development.

During the meeting, Prime Minister Hun Manet expressed Cambodia’s appreciation for China’s longstanding support and encouraged further Chinese investment. In return, China reaffirmed its continued support, announcing an additional grant of 300 million yuan to help Cambodia meet its development objectives. This strategic investment aligns with Cambodia’s infrastructure expansion goals and marks a new phase of collaboration between the two nations.

Both leaders also explored joint efforts to develop a master plan for the Fish and Rice Corridor, a project designed to enhance agricultural exports from Cambodia to China. This partnership is expected to significantly increase Cambodian rice and fish trade volume to the Chinese market, contributing to Cambodia’s economic prosperity.

Additionally, the bilateral discussions covered areas of mutual interest, including clean energy development, infrastructure construction, and enhancing people-to-people connectivity.

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