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PHNOM PENH, June 9 (Xinhua) -- The World Bank on Thursday signed up to provide a new loan of 130 million U.S. dollars to Cambodia, according to the lender's news release.
It was the 1st loan the bank lent to Cambodia after it had suspended lending to the country for five years in protest over mass evictions by the authorities.
The loan agreement was inked here between Ulrich Zachau, country director of the World Bank for Southeast Asia, and Cambodia's Economy and Finance Minister Aun Pornmoniroth.
The loan would be used for four projects to improve road surfaces, manage fisheries, improve livelihoods from agriculture in targeted rural communities, and increase access to health care, the press release said.
"Today's signing ceremony demonstrates an excellent partnership between the Royal Government of Cambodia and the World Bank," said Aun Pornmoniroth.
Ulrich Zachau said that having better roads, supporting poor villagers who depend on agricultural livelihoods and fishing, and access to better health care, are high priorities for Cambodia.
"The four projects signed today all contribute to improving the lives of poor Cambodians, and we are glad to support them," he said. "We look forward to working together closely and in strong partnership with Cambodia under the new Country Engagement Note, for the benefit of all Cambodians."
