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| The move was passed by a vote of 80 lawmakers of 102 present, in a session to recorrect the national budget for the last two years. (Photo: Taing Sarada) |
Phnom Penh Monday, 27 December 2010
“Cambodia needed more money to equip Cambodian soldiers to defend national sovereignty and territory.”
The National Assembly on Monday approved the borrowing of foreign loans worth more than $300 million, after the government spent beyond its budgets for 2009 and 2010.
The move was passed by a vote of 80 lawmakers of 102 present, in a session to recorrect the national budget for the last two years.
Loans will be taken from the foreign community to refill the coffers for $46.8 million and $265 million for 2009 and 2010, respectively, according to a request from the administration to the Assembly.
Finance Minister Keat Chhon told the Assembly Monday the government has a clear policy for concessionary loans for investment in infrastructure and to promote economic growth.
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The move was passed by a vote of 80 lawmakers of 102 present, in a session to recorrect the national budget for the last two years.
Loans will be taken from the foreign community to refill the coffers for $46.8 million and $265 million for 2009 and 2010, respectively, according to a request from the administration to the Assembly.
Finance Minister Keat Chhon told the Assembly Monday the government has a clear policy for concessionary loans for investment in infrastructure and to promote economic growth.
Please click here to read more...
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