China pledges $400m in Cambodian aid

China pledges $400m in Cambodian aid

CAMBODIA: Cambodia's foreign minister said on Friday that China has pledged more than US$400 million in aid and investment to the impoverished country for projects including a hydropower plant.

The agreements were signed last week when Prime Minister Hun Sen held talks with Chinese Premier Wen Jiabao on the sidelines of a regional summit meeting.

The meeting "has resulted in more than $400 million for our nation," Foreign Minister Hor Namhong told reporters. "This is colossal."

China's pledges include a US$300 million investment to build a hydropower plant in southwest Cambodia, Hor Namhong said.

Cambodia in May awarded a state-run Chinese company the contract to build the plant, which will produce 180 megawatts of electricity.

China will also provide more than $40 million to build a new office complex for Cambodia's prime minister and US$60 million to purchase patrol boats to combat smuggling and drug trafficking. -- AP