Cambodian News

HA NOI — More than US$2 million has been earmarked for human resource development in the Greater Mekong Sub-region (GMS), following the annual meeting of the Mekong Institute Governing Council in Vientiane, the capital city of Laos, the Lao newspaper Vientiane Times reported yesterday.
The money will be used to finance more than 50 capacity – [...]

PHNOM PENH, Dec. 4 (Xinhua) — The Asian Development Bank is (ADB) providing 10.81 million U.S. dollars to support efforts by Cambodia to improve its public financial management to ensure thatmuch-needed government funds reach the rural poor, said an ADB press release here on Thursday.
The program consists of a 6.71 million U.S. dollars of grant [...]

Cambodia has put prime importance on Chinese financial assistance, which releases it from some international pressure, Prime Minister Hun Sen told a Chinese delegation Wednesday.
“Loans or grants from China have released Cambodia from certain kinds of political pressure from international countries,” a government spokesman said, quoting Hun Sen’s address to a delegation led by Chinese [...]

Economic officials released the government’s plans for a second stage of public finance reform Wednesday, a day ahead of an annual donor meeting.
Cambodia has long struggled with public finance, and its government operations are supported in large part by the hundreds of millions of dollars in aid from other countries and lenders such as the [...]

Cambodia is facing increasing difficulties from the global financial crisis and an erosion of democratic principals, two opposition parties said Wednesday, producing a list of critiques for donors to consider ahead of an annual meeting Thursday.
The National Assembly minority, consisting of the Sam Rainsy and Human Rights parties, urged donors to consider four points ahead [...]

Opposition leader Sam Rainsy said Tuesday he was concerned Cambodians will face severe livelihood degradation in the wake of the global economic crisis.
“I say that because of the economic crisis and also because of the lack of country management in general,” he said. People were worse off than they were 15 or 20 years ago, [...]

PHNOM PENH (AFP)–Cambodian premier Hun Sen said Friday the country’s banking sector was stable despite the global financial crisis, but plans to set up a national stock exchange could be delayed.
The prime minister said the state of the country’s finance industry was “in a stable position which is not worrisome” because Cambodia “has not yet [...]

SIEM REAP, Cambodia (AFP) — The world’s poorest countries on Thursday called on rich nations to continue giving aid despite the global financial crisis.
The appeal from trade ministers and representatives from nearly 50 Least Developed Countries ended two days of talks in Cambodia’s tourist hub Siem Reap to discuss trade and the credit crunch.
Jointly organised [...]

Cambodia’s economic growth rate will be slashed by more than half compared to 2007, as a financial slowdown continues to plague world markets, the International Monetary Fund said Friday.
Cambodia’s economic growth rate will be around 6.5 percent for 2008 and will decrease to 4.25 percent next year, the IMF said, reporting findings of a visit [...]

In September, before the globe slipped into a financial crisis, developers in Cambodia had planned at least 30 colossal construction projects, including a giant modern city, and buildings with as many as 20 to 50 floors.
But after the US housing market crashed and global markets plummeted, many projects, especially the biggest ones, have been delayed.
South [...]