A Change of Guard

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Saturday 29 November 2008

The Opposition Party asks the parliament to review the draft documents to request for foreign aid


By Sophal Mony
28th November, 2008
Radio Free Asia
Translated from Khmer by Khmerization

Officials from the opposition party have today requested the parliament to review the draft documents for foreign aid because the amount of foreign aid requested is equal to 100% of Cambodia’s Gross Domestic Product (GDP).

Mr. Son Chhay (pictured), MP from the opposition Sam Rainsy Party, said on Thursday that: “We see that the loan request amounted to 100% of our GDP. In the world we never see any country asks to borrow money which is equivalent to the country’s annual income. If the amount we owe other countries is equivalent to the amount we earn per year, we will never be able to repay them. So, it is necessary that the parliament review the draft loan request. Each loan must be separate. It cannot be a package loan. Nowadays, our loan is always a package loan.”

The opposition’s statement has been made at the same time as when the Cambodian government is preparing to meet donor countries to request for $US500 million in foreign aid.

However, Mr. Cheam Yeap, a member of the ruling Cambodian People’s Party, said that all requests for foreign aid have always been reviewed by the parliament. Last year, Cambodia has received $US690 million in aid.

This year’s planned request for aid was made at the same time as when the donor countries, such as America, the European Union and China, are facing world economic crisis.

But Mr. Cheam Yeap is confident that the donor countries will give aid to Cambodia amounted to $US500 million as requested by the Cambodian government in a meeting of the donor countries to be held in Phnom Penh on 3rd of December, 2008.

Mr. Cheam Yeap said: “We are very confident that the Consultative Group who used give us aid, on the 3rd of December will give us aid. So, we are very optimistic that they will continue to help us, even during the time of financial crisis like this because we’ve seen that for the 2008 financial year, we have requested for only $602 million but they gave us $690 million.”

The French ambassador, Mr. Jean Francois Desmanzieres, said on Thursday that the current world financial crisis will not impact much on the granting of development aid to Cambodia for the 2009 financial year.

Please note that Cambodia needs $500-$600 million per year in development aid. In 2009, the government has planned to spend as much as $US2 billion in the national budget.//

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