PHNOM PENH, Sept. 7 (Xinhua) -- The Chief Economist and Senior Vice President of World Bank, Justin Yifu Lin hails Cambodia for its economic development during a courtesy call on Prime Minister Hun Sen on Tuesday morning.
"Dr. Justin Yifu Lin told Prime Minister Hun Sen that this is the first time he has visited Cambodia," Eang Sophalleth, the Spokesman for Prime Minister Hun Sen, told reporters after the meeting at the office of council of ministers.
Lin has expressed the congratulation to Cambodia for successes that Cambodia has achieved in the development of the nation that reflects the right leadership by the premier Hun Sen.
"Although the world has faced the financial crisis, Cambodia' s GDP is still positive; furthermore, Cambodia is among the five countries that has achieved the millennium development goals," Lin was quoted as saying to the premier.
Lin told Hun Sen that his visit to Cambodia is to learn about the development of Cambodia and to contribute to help Cambodia towards development.
Hun Sen thanks Justin Yifu Lin and informed him about the key factors that the government has set out in the effective development of its economy. Those are agricultural development, physical infrastructures and telecommunication, energy and human resource development.
Later at the day, Justin Yifu Lin met with Cambodian Finance Minister Keat Chhon and witnessed a signing ceremony at the Ministry of Economy and Finance of the 23 million U.S. dollars credit and grant agreements for the five-year higher education quality and capacity improvement project.
The agreements were signed by the Finance Secretary of State Aun Porn Moniroth and Ms. Annette Dixon, the World Bank Country Director.
Aun Porn Moniroth said after the signing ceremony that of the 23 million U.S. dollars - comprises of 11.5 million U.S. dollars in credit and 11.5 million U.S. dollars in grant.
"Since 1993, World Bank's total assistance to Cambodia reached to 1.059 billion U.S. dollars, of which grants comprises 345.5 million U.S. dollars and credits comprises 713.5 million U.S. dollars," he said.
Lin was appointed as the Chief Economist and Senior Vice President of World Bank in March 2008. During the three-day visit in Cambodia from Monday to Wednesday, Justin Yifu Lin has met with the Finance Minister Keat Chhon, and will also meet with representatives of private companies and development partners to learn about the development and challenges in Cambodia.
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