PM Hun Sen Requests US to Convert 70% of debt to Aid, the Rest to Slowly Repay at Low Interest Rate

• 2 June 2021
• Local News
• 2223 Views

In a meeting with US Deputy Secretary of State Wendy R. Sherman yesterday, Cambodian Prime Minister Hun Sen requested the United States to reconsider debt repayment methods for Cambodia.

The request includes allowing Cambodia to repay debt slowly and gradually with interest not exceeding 1%.

Besides, PM Hun Sen also requested the United States to consider converting 70% of the debt repayment to grant aid for Cambodia. The aid can be used to support the priority sectors such as education, culture, demining, among others.

In response, Wendy R. Sherman said she would take the proposal to President Joe Biden, with the aim that the two nations will reach a consensus on this matter.

On this occasion, she also expressed her appreciation for the cooperation between Cambodia and the United States, especially for the mission to search for the remains of missing US soldiers in Cambodia, cooperation in the fight against terrorism, and lately the humanitarian cooperation by allowing the Westerdam to dock in Cambodia.

• Policy and Strategy