Narrative
Full Description
Project narrative
On February 18, 2019, the Chinese Government provided a USD 7.66 million concessional loan by the Lancang-Mekong Cooperation (LMC) Special Fund to Cambodia for 19 unspecified projects in 2018, known as 2018年度澜湄合作专项基金柬方项目 in Chinese. Chinese Ambassador to Cambodia Wang Wentian and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn signed the cooperation agreement on the projects of LMC Special Fund. The latest 19 projects include, among others, scholarship programs, project management training, poverty reduction via rural economic development, and integration development along the Mekong River. On March 23, 2016, China pledged US$300 million in concessional loans to five countries along the Mekong River -- Cambodia, Laos, Myanmar, Thailand, and Vietnam -- to fund infrastructure and industrial projects. These countries make up the Lancang-Mekong Cooperation (LMC). The projects will range from railways to industrial parks and aim to boost regional cooperation (see #68975 for Cambodia's participation breakdown and #49339 for the LMC umbrella project). These projects are meant to benefit the Cambodian people in many areas such as improving living standards, education, health, and tourism. According to a report in 2019, so far, 2 projects have been completed, and the remaining 14 projects have made substantial progress ("中国与柬埔寨签署19个澜湄合作专项基金项目 金额766万美元"). A first batch of project agreements for 2017 funded by a US$7.3 million loan were signed on December 21, 2017 (see #68974).