WB encourages infrastructure investment in Cambodia

The World Bank (WB) said investing in public goods and services such as infrastructure, health and education is vital for economic growth in Cambodia.
WB encourages infrastructure investment in Cambodia ảnh 1Illustrative image (Source: www.phnompenhpost.com)

Hanoi (VNA) – The World Bank (WB) said investingin public goods and services such as infrastructure, health and education is vitalfor economic growth in Cambodia.

Infrastructure investment is necessary for any economyto function efficiently, said the WB’s Economic Update report for Cambodia.

It is estimated that the country needs about 600million USD per year in infrastructure development and logistics to maintaineconomic growth and boost its competitiveness.

Cambodia’s economic growth remains strong, stated thereport, and is expected to hit 6.9 percent in 2017 and 2018, driven by publicspending, garment exports, construction, agriculture and tourism.

According to information on public debt announced bythe Cambodian Economy and Finance Ministry, the government signed variouscredit agreements at low interest worth 8.3 billion USD from 1993-2016.

Specifically, Cambodia loaned money from China, Japan,the Republic of Korea, France, Thailand, India, Vietnam and Malaysia.

The country also borrowed two billion USD from theAsia Development Bank and 794 million USD from the WB.-VNA

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