Home > Business, Cambodia Business News > China provided Cambodia with 100 million yuans in grant, $300 million in loans and 200 scholarships to Cambodian students

China provided Cambodia with 100 million yuans in grant, $300 million in loans and 200 scholarships to Cambodian students

Foreign Minister Hor Namhong (pictured), who accompanied Prime Minister Hun Sen on an official visit to China, said during a press
conference upon arriving in Cambodia on Friday 17th that Chinese
Premier Wen Jiabao had agreed to provide 100 yuans (approx. $16
million) in grant, $300 million in loans and 200 scholarships per year to Cambodian students to further their studies at Chinese universities.

The $300 million loans will be used to fund
national highway No.215 from Oddar Meanchey’s Tbeng Meanchey town to
Thalaborivat which will cost $100 million, to develop Vai Ko River in
Svay Rieng province which has the capacity to irrigate 300,000 hectares
of land, three times a season. Cambodia and China had also discussed the construction of a railroad from Phnom Penh to Vietnam which China said it had conducted the feasibility study and the decision will be made in the near future. China had also agreed to buy Cambodian rice, cassava and corns from Cambodia.

On top of these, China has agreed to provide 200 scholarships per year to Cambodian students, an increase from 80 per annum in the previous years.

Mr.
Hor Namhong said that during the meeting with Prime Minister Hun Sen,
Premier Wen Jiabao said that the two-way trades between Cambodia and
China had reached $1.1 billion in the first 10 months of 2010. He said
the Chinese leader had promised to push the two-way trades between the
the two countries to reach $2.5 billion per annum by 2015.

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