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Thursday, January 21, 2016, Magh 8, 1422 BS, Rabius Sani 9, 1437 Hijri

With AIIB, Cambodia diversifies funding options
Published :Thursday, 21 January, 2016,  Time : 12:00 AM  View Count : 25

PHNOM PENH, Jan 20: Experts this week welcomed Cambodia's membership to the nascent China-led Asian Infrastructure Investment Bank (AIIB), saying it would provide much-needed diversity of funding for the nation's infrastructure and connectivity needs, a local newspaper reported Wednesday.
Launched in Beijing last weekend, the multilateral development bank aims to support infrastructure growth in the Asia-Pacific region through the provision of loans, and supports the China-proposed "One Belt, One Road" initiative to boost trade and connectivity across the Eurasian landmass.
Last week, Cambodia's National Assembly ratified a 62. 3-million-U.S.-dollar investment proposal in the 100-billion-U.S.- dollar capitalized bank, making Cambodia one of 57 prospective founding member states throughout the world.
"The more institutions that Cambodia can tap into for funding the better," David Van, managing director at consultancy firm Bower Group Asia, was quoted by the Cambodia Daily as saying.    ?Xinhua

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