Friday, August 22, 2008

August 22, 2008, Kuwait loans Cambodia $546 millon, plans embassy

PHNOM PENH - Kuwait has agreed to give Cambodia loans totalling $546 million to develop agriculture, build hydro-power facilities and construct roads, a Cambodian foreign ministry official said.

This is the second-biggest aid pledge ever received by Cambodia, after aid and loans totalling $601 million offered by China last year.

"This is showing a stronger relationship between Kuwait and Cambodia, both political and economic," Cambodian foreign ministry spokesman Sin Bunthoeurn stated.

He said they planned to open embassies early next year.

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