Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Kingdom inks $60.3m loan for flood relief

Kingdom inks $60.3m loan for flood relief

The Ministry of Economy and Finance yesterday signed a US$60.3 million loan package with Asian Development Bank to aid in reconstruction efforts after the Kingdom last year suffered its worst floods in a decade.

Minister Keat Chhon, calling the loans “a timely response of our need for the development”, said ADB would provide $55 million, with the Australian government, through its development arm AusAID, donating $5.3 million.

He estimated the total rehabilitation costs were as high as $66.8 million, however, but that the Cambodian government would bridge the gap with its own funds.

The government already had spent $45 million on restoration efforts since last year’s floods, he said.



Please, login or register to post a comment

Latest Video

Turkish Embassy calls for closure of Zaman schools

With an attempted coup against the government of President Recep Erdogan quashed only days ago and more than 7,000 alleged conspirators now under arrest, the Turkish ambassador to Cambodia yesterday pressed the govern

CNRP lawmakers beaten

Two opposition lawmakers, Nhay Chamroeun and Kong Sakphea were beaten unconscious during protests in Phnom Penh, as over a thousand protesters descended upon the National Assembly.

Student authors discuss "The Cambodian Economy"

Student authors discuss "The Cambodian Economy"

Students at Phnom Penh's Liger Learning Center have written and published a new book, "The Cambodian Economy".