Lancang-Mekong Cooperation Special Fund provides USD 7.22 million to Cambodia for 20 projects in 2020 (Linked to Record ID#49339)

Lancang-Mekong Cooperation Special Fund provides USD 7.22 million to Cambodia for 20 projects in 2020 On June 23, 2020, the Chinese Government provided a USD 7,225,400 concessional loan by the Lancang-Mekong Cooperation (LMC) Special Fund to Cambodia for 20 unspecified projects in 2020, known as 2020年度澜湄合作专项基金柬方项目 in Chinese.

This set of projects are in the sectors of education, agriculture, and cultural heritage.

The agreement was signed at the Cambodian Ministry of Foreign Affairs where Chinese Ambassador to Cambodia Wang Wentian and Cambodian Deputy Prime Minister and Minister of Foreign Affairs Bra Sokhon attended and signed on behalf of both parties.

On March 23, 2016, China pledged USD 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 Record ID#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 USD 7.3 million loan were signed on December 21, 2017 (see Record ID#68974).

A second batch of project agreements for 2018 funded by a USD 7.66 million was signed on February 18, 2019 (see Record ID#62695).