Tuesday, May 19, 2009

China provides preferential loan for Cambodia's road development

  PHNOM PENH, May 19 (Xinhua ) -- China on Tuesday provided about 73 million U.S. dollars of a concessional loan to Cambodia to build a part of main road in the northeastern part of the country to develop that area into a newly potential economic zone.

    The fund will be used for building a 121km-long road, a part of national road 78 from Stung Treng province to Ratanakiri province, according to the Cambodian Ministry of Economics and Finance.

    The road will be used for border-crossing trade activities, transport, and tourism with the neighboring countries in the framework of triangle development in the Great Mekong Sub-region (GMS), Keat Chhon, deputy prime minister and minister of economics and finance, said at the signing ceremony with Chinese Ambassador to Cambodia Zhang Jinfeng.

    The project will be contributed to integrate the internal road system in the country and linking the road to regional road networks, he said, adding that it will connect the northeastern part of the country with central Vietnam.

    The road is a blood vessel for northeastern areas, Keat Chhon said. He also thanked the Chinese government for its persistent support to Cambodia's social and economic development.

    Ambassador Zhang expressed confidence that the road will be sure to help the poverty reduction in Cambodia's northeastern area and to play an important role in promoting the economic development there.

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