China forgives $90 million debt, provides $15 million more to Cambodia

China has cancelled a 600 million yuan ($90 million) debt that Cambodia owed it last year, and will provide an additional 100 million yuan ($15 million) to Cambodia’s defence ministry, in further signs of deepening relations between the two countries.
Chinese President Xi Jinping, left, with Cambodian Prime Minister Hun Sen during a meeting at the Peace Palace in Phnom Penh on Thursday.(AFP)
Chinese President Xi Jinping, left, with Cambodian Prime Minister Hun Sen during a meeting at the Peace Palace in Phnom Penh on Thursday.(AFP)
Published on Oct 13, 2016 11:39 PM IST
Copy Link
ByAP, Phnom Penh

China has cancelled a 600 million yuan ($90 million) debt that Cambodia owed it last year, and will provide an additional 100 million yuan ($15 million) to Cambodia’s defence ministry, in further signs of deepening relations between the two countries.

The announcements were made Thursday during Chinese President Xi Jinping’s first visit to Cambodia. A total of 31 agreements were signed during the visit, which started Thursday, said Eang Sophalleth, a spokesman for Cambodian Prime Minister Hun Sen.

He said Xi told Hun Sen that he was cancelling the 600 million yuan debt, and that the two countries agreed to expand trade from the current $4.4 billion to $5 billion in 2017. The Chinese president also assured Hun Sen that he will encourage Chinese people to visit Cambodia, boosting the number of visitors from around 700,000 now to 2 million by 2020.

Hun Sen thanked China for its support, he said.

“The development of Cambodia cannot have happened without help from China,” he quoted Hun Sen as saying. Hun Sen asked for more support, especially in defence, investment, health care and infrastructure.

Sophalleth said Xi promised to convince Chinese companies to help Cambodia in building a new airport in Siem Reap province and a new railway.

The spokesman refused to say if the two leaders talked about territorial disputes in the South China Sea.

China is a key ally and economic partner of impoverished Cambodia. It has provided millions of dollars in aid and investment over the past decade, granted it tariff-free status on hundreds of trade items and written off debt.

In return, Cambodia supports China in international forums, including in Beijing’s ongoing dispute with other Southeast Asian countries in the South China Sea.

In July, China provided Cambodia with nearly $600 million in aid to support the country’s election infrastructure, education and health.

China’s influence in Cambodia is considerable despite Beijing’s strong backing of the former Khmer Rouge government that caused the deaths of some 1.7 million Cambodians in the late 1970s.

Read | China’s South Asia push to get boost during Prez Xi’s visit

SHARE THIS ARTICLE ON
Close Story
QUICKREADS

Less time to read?

Try Quickreads

  • An ambulance and armed police are seen during the evacuation of people at the Fields shopping center in Copenhagen, Denmark, on July 3, 2022 after Danish media reported a shooting. (Photo by Olafur Steinar Gestsson/Ritzau Scanpix/AFP)

    Several dead after shooting at shopping mall in Copenhagen; one arrested

    The Royal House said on its website late on Sunday that an event in southern Denmark to commemorate the end of the first three stages of the Tour de France cycling race, hosted by the Danish Crown Prince and with Prime Minister Mette Frederiksen in attendance, had been cancelled.

  • People rally in support of abortion rights Saturday, July 2, 2022, in Kansas City, Mo. (AP Photo/Charlie Riedel)

    Texas clinics halt abortions after state high court ruling

    The Friday night ruling stopped a three-day-old order by a Houston judge who said clinics could resume abortions up to six weeks into pregnancy. The following day, the American Civil Liberties Union said it doubted that any abortions were now being provided in a state of nearly 30 million people.

  • Other places from which Google will not store location data include fertility centers, addiction treatment facilities, and weight loss clinics.

    Google to delete user location history on US abortion clinic visits

    "If our systems identify that someone has visited one of these places, we will delete these entries from Location History soon after they visit," Jen Fitzpatrick, a senior vice president at Google, wrote in a blog post. "This change will take effect in the coming weeks."

  • Professor Ajay Agrawal, who was honoured with the Order of Canada in the 2022 list. (Credit: University of Toronto)

    Two Indo-Canadian academics honoured with Order of Canada

    Two Indo-Canadian academics, working on research to advance the betterment of mankind, have been honoured with one of the country's most prestigious awards, the Order of Canada. Their names were in the list published by the office of the governor-general of Canada Mary Simon. Both have been invested (as the bestowal of the awards is described) into the Order as a Member. They are professors Ajay Agrawal and Parminder Raina.

  • SpaceX founder and chief engineer Elon Musk.

    Elon Musk's Twitter hiatus, in 2nd week now,  generates curiosity 

    The world's richest person, Elon Musk, has not tweeted in about 10 days and it can't go unnoticed. The 51-year-old business tycoon has 100 million followers on the microblogging site, which he is planning to buy. Since April, he has been making headlines for the $44 billion deal and his comments and concerns about the presence of a large number of fake accounts on Twitter.

SHARE
Story Saved
×
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, July 04, 2022