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World Bank ends suspension of development aid to Cambodia
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Cambodian Buddhist devotees offer food to Buddhist monks during a march returning the golden urn said to be holding Buddha's relics to Oudong, in Kandal province, some 40 kilometers (25 miles) northwest of Phnom Penh, Cambodia, Friday. (AP/Heng Sinith)
T
he World Bank has announced it is resuming direct financing for new development projects in Cambodia, after suspending such funding five years ago.
The international financial institution said in a statement Thursday that US$130 million in financing had been approved for four projects involving roads, water, agriculture and health care. It said there had been a pause in funding new projects since 2011, but did not elaborate. Funding for ongoing projects had not stopped.
The bank had cut off lending to protest the forced eviction of lakeside landowners in Phnom Penh to make room for a luxury development, even as it was working to combat land grabs. No reason was given for the resumption of lending, although the eviction dispute remains unresolved.
