November 11, 2010
Source: Xinhua
The Cambodian government received Thursday 40 million U.S. dollars from the World Bank for restoring the losses and damage caused by Typhoon Ketsana that hit the country last year.
Speaking at the signing ceremony to receive the assistance from World Bank, Keat Chhon, deputy prime minister and minister of finance and economy said the assistance is classified into two forms, one of which is 20 million U.S. dollars as in grant and another 20 million U.S. dollars as in credit.
The assistance will target specifically to the poor under the World Bank's form of the Ketsana Emergency Reconstruction and Rehabilitation Project (KERRP) which aims to restore transportation and water and sanitation services to the affected people who are mostly poor and live in the rural areas, as well as to strengthen the capacity of the government in disaster preparedness and management.
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