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Cambodia to seek $300 mln from China for development

In Economy, Foreign Aid on October 14, 2008 by viCheth

PHNOM PENH, Oct. 14 (Xinhua) — Cambodia will seek 300 million U.S. dollars from China to develop the country, Prime Minister Hun Sen told the Fourth Asia Forum here Tuesday.

Hun Sen did not mention whether the money was aid, investment or loan.

“I will meet Chinese Premier Wen Jiabao in bilateral meeting during the Seventh ASEM Summit between Oct. 24 to 25 in Beijing,” he added.

According to the Chinese Embassy, the bilateral trade volume between China and Cambodia increased from 12.95 million U.S. dollars in 1992 to 933 million U.S. dollars in 2007.

China is currently the second largest investing country and the fourth largest donor country for Cambodia.

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