China pledges 100 mln USD of loans for Cambodia to build infrastructure

China has pledged to offer 100 million U.S. dollars of preferential loans for Cambodia to build its infrastructure, said Cambodian Deputy Prime Minister Hor Nam Hong here on Monday upon his return from the Philippines.

"The loan from China will be used to build National Road No. 10 from Battambang province to Pailin city and the Takhmao Bridge in Kandal province," said Hor, who is also Minister of Foreign Affairs and International Cooperation.

This finance aims to encourage Cambodia to develop and offer benefits to the rural area, Hor told a press conference at the Phnom Penh International Airport upon his return from the ASEAN ( the Association of Southeast Asian Nations) meetings.

Some of the loans will be dedicated to other road and bridge projects, he said, adding that China made this promise during the ASEAN meetings in Cebu, Philippines, in accordance with the Cambodian government's request made in 2006.

The loans were a follow-up to the 200 million U.S. dollars of aids and loans for Cambodia nodded by Chinese Prime Minister Wen Jiabao in April, 2006, when he paid an official visit to the kingdom. Part of them have been earmarked to Cambodia to build bridges and roads.

Prime Minister Hun Sen also returned from the ASEAN summits on Monday evening.

Source: Xinhua