Cambodia earmarks $12.8 billion for public projects

The new expressway between Phnom Penh and Sihanoukville (Picture: Xinhua)

Cambodia’s government on October 9 approved a three-year public investment programme ranging from 2021 to 2023 at a total volume of $12.8 billion, spokesman Phay Siphan said. The money would be used mainly for infrastructure and development projects, improvements in the agricultural sector, as well as for social and service sector projects.

The programme’s purpose is to ensure a sustainable economic growth and a further reduction of poverty after the coronavirus pandemic has subsided, Siphan said, according to Xinhua news agency.

According to the spokesman, Cambodia’s Prime Minister Hun Sen said that despite the ongoing Covid-19 crisis, Cambodia’s financial position remained good compared to other countries and the government had not requested creditors to postpone any loan repayments or international financial obligations.

No budget crisis amid pandemic, says prime minister

Hun Sen further noted that the government has still been able to finance key road and irrigation projects. Moreover, it has provided a cash relief to almost 700,000 poor and vulnerable families during the pandemic.

As of October 9, Cambodia recorded 282 confirmed Covid-19 cases, with 277 recovered and zero deaths

However, the pandemic has led to widespread economic disruption as factories had to close and tourists stayed away when the country went into lockdown. It has also compounded the country’s household debt crisis, with many poorer Cambodians indebted to microfinance lenders and loan sharks with fears growing that countless people could end up destitute and homeless after losing their land to creditors.



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The new expressway between Phnom Penh and Sihanoukville (Picture: Xinhua) Cambodia’s government on October 9 approved a three-year public investment programme ranging from 2021 to 2023 at a total volume of $12.8 billion, spokesman Phay Siphan said. The money would be used mainly for infrastructure and development projects, improvements in the agricultural sector, as well as for social and service sector projects. The programme’s purpose is to ensure a sustainable economic growth and a further reduction of poverty after the coronavirus pandemic has subsided, Siphan said, according to Xinhua news agency. According to the spokesman, Cambodia's Prime Minister Hun Sen...

The new expressway between Phnom Penh and Sihanoukville (Picture: Xinhua)

Cambodia’s government on October 9 approved a three-year public investment programme ranging from 2021 to 2023 at a total volume of $12.8 billion, spokesman Phay Siphan said. The money would be used mainly for infrastructure and development projects, improvements in the agricultural sector, as well as for social and service sector projects.

The programme’s purpose is to ensure a sustainable economic growth and a further reduction of poverty after the coronavirus pandemic has subsided, Siphan said, according to Xinhua news agency.

According to the spokesman, Cambodia’s Prime Minister Hun Sen said that despite the ongoing Covid-19 crisis, Cambodia’s financial position remained good compared to other countries and the government had not requested creditors to postpone any loan repayments or international financial obligations.

No budget crisis amid pandemic, says prime minister

Hun Sen further noted that the government has still been able to finance key road and irrigation projects. Moreover, it has provided a cash relief to almost 700,000 poor and vulnerable families during the pandemic.

As of October 9, Cambodia recorded 282 confirmed Covid-19 cases, with 277 recovered and zero deaths

However, the pandemic has led to widespread economic disruption as factories had to close and tourists stayed away when the country went into lockdown. It has also compounded the country’s household debt crisis, with many poorer Cambodians indebted to microfinance lenders and loan sharks with fears growing that countless people could end up destitute and homeless after losing their land to creditors.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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