DAP: The breaking news in Cambodia: “ADB announces 3-year pipeline to boost develpment in Cambodia” plus 2 more

DAP: The breaking news in Cambodia: “ADB announces 3-year pipeline to boost develpment in Cambodia” plus 2 more

ADB announces 3-year pipeline to boost develpment in Cambodia

Posted: 17 Dec 2012 08:59 PM PST

PHNOM PENH, Dec. 18 (Xinhua) -- The Asian Development Bank (ADB) on Tuesday unveiled its new three-year assistance plan of 525 million U.S. dollars to Cambodia in order to help the country reduce poverty, promote growth and mitigate climate change, the bank said.

The plan for 2013-2015 marked the bank's strategic focus in Cambodia towards urbanization of secondary towns, urban-rural linkages, economic corridor development, climate change and private sector development, the statement said. "The plan lays out the areas that we will emphasize as we work to reduce poverty, to stimulate more efficient and inclusive growth, and to address major environmental challenges,"ADB Country Director for Cambodia Eric Sidgwick said in a press briefing at the bank's head-office here on Tuesday.

The three-year indicative assistance pipeline comprises Asian Development Fund concessional loans of 491 million U.S. dollars to both firm national and regional projects and programs, and 34 million U.S. dollars in grants for national and regional technical assistance, the statement said, adding that the pipeline targets the mobilization of 260 million U.S. dollars in co-financing from external sources.

It said that this will support 14 national and five regional projects and programs, including projects to commercialize rice production, improve provincial and rural roads, rehabilitate irrigation systems, develop towns along the Greater Mekong Sub- region corridors, inject climate change mitigation activities and strengthen public-private partnerships.

Czech to increase diplomatic ties with Cambodia

Posted: 17 Dec 2012 08:58 PM PST

PHNOM PENH, Dec. 18 (Xinhua) -- The Czech Republic is going to set up its embassy residence here next year in order to strengthen and expand bilateral relations and cooperation between the two nations, the newly-designated ambassador of the Czech Republic to Cambodia Vitezslav Grepl said Tuesday.

The Bangkok-based ambassador unveiled the plan during a meeting with President of Cambodia's National Assembly Heng Samrin.

He said the permanent residence in Phnom Penh will be easier for Czech to promote bilateral ties with Cambodia, promising that Czech will continue helping Cambodia in education, health, agriculture, and energy.

Besides, he pledged to encourage businesspeople and investors from Czech do businesses in Cambodia in the fields of energy, water management, industries, environment and tourism.

Speaking at the meeting, Heng Samrin highly spoke of good relationship and cooperation between Cambodia and the Czech Republic, saying that Czech has helped Cambodia in a number of sectors including health, agriculture and education.

He said that currently trade, investment and tourism relations between the two countries are still relatively small so that it is important for the two countries to promote cooperation in these fields for mutual interests.

Cambodian PM vows to protect environment

Posted: 17 Dec 2012 08:57 PM PST

PHNOM PENH, Dec. 17 (Xinhua) -- Cambodian Prime Minister Hun Sen said Monday he decided to choose environment protection, not to choose 30 billion U.S. dollar expected revenues from the exploitation of titanium ore in Southwestern Cambodia.

"According to a feasibility study, titanium ore deposit in Chhiphat district in Koh Kong province is estimated at the value of 30 billion U.S. dollars, but to exploit the mineral, it is required to destroy about 20,000 hectares of forest," he said during the inauguration of an automotive electronic parts factory in the province.

"To protect environment, I decided not to grant an exploitation license to a company to exploit it because if we allow the exploitation, it will not only destroy forest and wildlife habitat, but it will also pollute sea water," he said.

"Keeping the mineral under the ground will never spoil, and it will be never late to exploit it even in 200 years later," the premier said.

Hun Sen announced in April last year not to grant an exploitation license to a local company Khmer United Group to exploit titanium ore in the province, citing concerns over environment, biological diversity and people living in the area.

The firm said at the time that the area has the potential to produce 35 million tons of titanium.

Koh Kong province is situated some 271 kilometers Southwest of Phnom Penh, the capital of Cambodia.

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