Chinese Government offers $302 million loan package for roads and irrigation projects (linked to #39178, #32155)

On February 2, 2012, Chinese Prime Minister Hun Sen signed an agreement under which China would provide US$302 million in concessional loans to Cambodia to build roads and irrigation systems. A week before, the Export-Import Bank of China promised to advance the US$302 million loan during a visit by its chairman Li Ruogu. Projects that are connected to this loan agreement include Vaico Irrigation Development Project - Phase I and Project of Extension National Road 76:Vaico Irrigation Development Project - Phase I: US$99,303,000 preferential buyer's credit loan. The Vaico Irrigation Development Project was said by Spokesman of Ministry of Water Resources and Meteorology Mr. Chan Yutha to be the biggest water resources irrigation project under the cooperation of Cambodia and China and it will be constructed by two phases. The total cost of the whole project is US$200 million, totally funded by concessional loans from China. When completed, more than 300,000 ha of farmland in Prey Veng, Svay Rieng and Kampong Cham provinces can be irrigated, in turn promoting local agriculture and contributing to poverty reduction. The project was commenced on March 1, 2013, and is expected to complete by February 2, 2017. The contractor is Guangdong Foreign Construction Co., Ltd. and the Consultant is Guangzhou Wanan Construction Supervision Co., Ltd. (see linked ProjectID#39178 for more details).Project of Extension National Road 76: US$89,273,400 preferential buyer's credit loan. The 171.78 km road will be from Sen Monorom - Koh Nhek (Mondulkiri) to Lukphat - Ta Ang (Ratanakiri). Works for the project began on 31 January 2012 and is expected to complete by 2 February 2017. The contractor for the project is China Road and Bridge Corporation and the Consultant is Guangzhou Wanan Construction Supervision Co., Ltd. While CDC reports the loan amount of US$89,273,400, MPWT reports the amount of US$91,680,000 (see linked ProjectID#32155 for more details)

Number of official sources

5

Number of unofficial sources

4