Cambodia proposed to World Bank to reconsider on credit terms that have high concessional
Phnom Penh (MGO) – HE Aun Porn Moniroth, Deputy Prime Minister and Minister of Economic and Finance has proposed to World Bank on credit terms that have high concessional the same as other development partners and extend the implementation of new credit terms so that Cambodia can access financing for large-scale infrastructure investments to support and economic recovery after Covid-19 crises.
This proposal has made in the occasion that HE Aun Porn Moniroth the Deputy Prime Minister and Minister of Economic and Finance meet with Mrs. Victoria KwaKwa, Vic President of World Bank to East Asia and the Pacific via Video Conference on September 13, 2021.The Minister has informed about the progressive of vaccination, so far Cambodia has vaccinated to again Covid-19 for the group of people age 18 and older reached to 90% compared to the target of 10 million population and young people age 12-17 reached to 1,4 million compared to the target of 2 million people.
Cambodia will reopen public and private educational institutions for all secondary and high school levels in nearly future, except for elementary school.In addition, Cambodia plan to reopen the business activities through new a path, which will begin from education sector after domestic tourism sector and the tourist who have received twice dose of vaccine. Meanwhile, Minister Aun Porn Moniroth requested to World Bank to mobilize resources in the form of grants funding for financial development and social protection projects, such as education, skills development, and health projects, which are in greater demand, especially after Covid-19 context.
Mrs. Victoria Kwakwa expressed her gratitude and appreciation for Cambodia's excellent cooperation in the past, which successfully completed her mandate. Mrs. congratulate for the success of the Royal Government in controlling the spread of Covid-19, especially the rapid response of the vaccine to the population in developing countries, as well as the reopening of the public and private educational institutions.
At the same time, Mrs. also mentioned the good partnership between the World Bank and the Royal Government of Cambodia in the spirit of mutual respect and respect as the ownership of Cambodia that is a testimony in response to Samdech Techo Hun Sen's introductory remarks when Lok Chumteav took office. Mrs. also stressed on a total support for the proposal of Minister Aun Porn Moniroth and also pledge to rediscuss with the Leader of World Bank to fine the solution.
Source: MEF/Translator: Leakna