Chinese Government pledges loan package worth more than $80 million for three projects

The Chinese Government pledged more than $80 million USD for three concessional loans to Cambodia between September 1-2, 2012, which were expected to be signed in 2012. The specific sub-projects are unknown. On the same day, a grant of RMB 150 million was pledged (as captured in ProjectID#32232).According to reports, these grants and loans are given as a 'gift' to thank Cambodia's cooperation in the ASEAN. A summit of the 10 members of the Association of Southeast Asian Nations (ASEAN) in July failed to issue a joint communique for the first time in the group's 45-year history after disagreement over the wording of a section on territorial claims in the South China Sea. Cambodia, which chairs ASEAN meetings this year, was accused by some countries in the group of stonewalling in support of its ally, China.

Additional details

This project does not have a transaction amount as the sources refer to the total amount as 'more than $80 million USD'; therefore, AidData cannot be certain of the actual transaction amount and errs on the side of caution.

Number of official sources

0

Number of unofficial sources

6