World Bank Grant Cambodia 40 million dollars

Sun Narin

November 14

World Bank granted Cambodia’s government forty million dollars on Thursday to restore the losses and damage caused by Typhoon Ketsana which hit the country last year.

Deputy prime minister and minister of finance and economy Keat Chhon said that the assistance is classified into two forms, one of which is 20 million U.S. dollars as in grant and another 20 million U.S. dollars as in credit.

The assistance aims to restore transportation and water and sanitation services to the affected people who are mostly poor and live in the rural areas, as well as to strengthen the capacity of the government in disaster preparedness and management.
This four-year rehabilitation project will focus on four main components such as the rehabilitation, reconstruction and improvement of 920 km of existing rural roads, including bridges, culverts and drainage facilities.

The World Bank’s program in Cambodia is designed to provide support to the poorest segments of the population, within the overarching goal to improve governance.

Keat Chhon said that including the 40 million U.S. dollars aid, World Bank has financed a total of 1,099 million U.S. dollars to Cambodia since 1993, of which 733.5 million U.S. dollars is credit and 365.5 million U.S. dollars is grant.

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