Cambodia needs 14.48 bln USD during next 3 year for public investment programme

PHNOM PENH, Aug 30 (Xinhua/APP):The Cambodian government on Friday approved the next three-year public investment program (2020-2022), which would require a total capital of 14.48 billion U.S. dollars to carry out 608 projects, government chief spokesman Phay Siphan said.

The approval was made during a weekly cabinet meeting presided over by Prime Minister Samdech Techo Hun Sen, the spokesman wrote on his Facebook page.

To date, the government has contributed 529.8 million dollars to the program, as development partners have pledged 8.06 billion dollars, Siphan said, adding that the kingdom is seeking another 5.89 billion dollars to cover the whole cost of the program.

“The program’s purpose is to ensure the economic growth of around 7 percent per year, and to further reduce poverty through the investment in agriculture and rural development,” he said.

The chief spokesman said 53.8 percent of the program’s total investment would be focused on infrastructure projects, 32.7 percent on economy-driven projects, 6.5 percent on social projects, and 7 percent on service sector projects.

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