Logo of Phnom Penh Post newspaper Phnom Penh Post - PM to ask China for new loans

PM to ask China for new loans

PM to ask China for new loans

CHINA AID
PM to ask China for new loans

Prime Minister Hun Sen announced plans to borrow upwards of US$300 million from the Chinese government during his trip to Beijing later this month. "We need some hundreds of millions ... $300 million is a small amount for China," Hun Sen said during the opening of the fourth Asia Economic Forum in Phnom Penh on Tuesday.

Hun Sen is scheduled to attend the Asia Europe Meeting, which runs October 24 and 25 in Beijing. During the trip Hun Sen will also celebrate retired King Norodom Sihanouk's birthday on October 31. Last year, China provided more than $600 million in loans to Cambodia for the development of its infrastructure.

MOST VIEWED

  • Hun Sen ready to ‘break record’, says Rainsy lost

    Caretaker prime minister Hun Sen used a meeting with 18,400 factory workers on Wednesday to predict that he would beat the record for being the world’s longest-serving non-royal leader. He also used the platform to slam political opponent Sam Rainsy who he said had lost

  • Sihanoukville land prices skyrocketing amid breakneck development

    Sihanoukville, the Kingdom’s most famous beach destination for tourists, is seemingly becoming a paradise for Chinese investors as well. The huge influx of Chinese investors has caused property values to rise, especially the price of land, which has nearly doubled in some places near

  • US names new ambassador to Cambodia

    US President Donald Trump on Friday appointed W Patrick Murphy as the new US Ambassador to Cambodia, replacing incumbent William A Heidt. A press release posted on the White House’s website said nominee W Patrick Murphy is currently acting principal deputy assistant secretary at

  • Kingdom is at a crossroads between East, West after poll

    It was dubbed a success by caretaker prime minister Hun Sen after the electoral victory of his Cambodian People’s Party (CPP), which is poised to take all seats in the National Assembly. But the July 29 national election has not been positively looked at by