Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia set to donate to BRI fund

Cambodia set to donate to BRI fund

Cambodia set to donate to BRI fund

Cambodia and five other countries have agreed to donate $180.2 million to a multilateral fund to support infrastructure construction projects under China’s Belt and Road Initiative (BRI), the Chinese Ministry of Finance said on Wednesday.

The fund was set up by the Multilateral Cooperation Centre for Development Finance.

The centre is a multilateral coordination mechanism jointly launched last year by the ministry, the Manila-based Chinese-led Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB) and six other multilateral development institutions, including the World Bank Group and Inter-American Development Bank.

Approved by the AIIB Board of Directors, the AIIB is the fund trustee and the executive agency of the centre’s projects. The bank also will establish a secretariat to support the centre’s operation, the ministry said in a statement on its website.

The statement listed the donating countries as the Kingdom, China, Egypt, Saudi Arabia, Hungary and the Philippines.

The ministry said it unveiled plans for the centre at the First Belt and Road Forum for International Cooperation in 2017.

CHINA DAILY/ASIA NEWS NETWORK

MOST VIEWED

  • Cambodia unveils new quarantine regulations

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Cambodia sets new Covid-19 quarantine rules

    The government has modified Covid-19 quarantine requirements, shortening the duration for, among others, Cambodian officials, foreign diplomats and delegations, investors and inbound travellers in general. According to an official notice signed by Minister of Health Mam Bun Heng late on October 16, quarantine length for Cambodian

  • Hun Sen: Cambodia set to fully reopen

    Prime Minister Hun Sen concludes that the October 5-7 Pchum Ben public holiday, during which many people either flocked to their hometowns for family reunion or gathered at tourist attractions across the country, has not caused an outbreak of Covid-19. In a special address to

  • Will Evergrande change the way Chinese developers do business in Cambodia?

    China’s property sector policy has exposed the grim financial condition of real estate developers including those operating in Cambodia, which raises questions over the viability of their projects and business going forward The dark blue netting draping over one of Yuetai Group Co Ltd’

  • Cambodia resumes issuance of tourist visas

    The Ministry of Foreign Affairs and International Cooperation has announced the resumption of its tourist visa and visa exemption programme after a long hiatus due to the Covid-19 pandemic. In a letter dated October 20 and addressed to foreign embassies and consulates, foreign minister Prak Sokhonn

  • Cambodia voted ‘world’s friendliest country’ in Rough Guides reader poll

    Cambodia ranked number one among the “World’s Friendliest Countries”, according to a reader poll conducted by London-based international website “Rough Guides”. Taking submissions through Twitter and Facebook, “Rough Guides”, a well-known travel agency and publisher of guidebooks, said the Kingdom “was by far the