Reuters today, December 18, citing data from the Cambodian Ministry of Finance, said that China did not approve any new loans for Cambodia in the first 9 months of 2024.
Cambodian government data shows that China accounts for more than a third of the Southeast Asian nation's $11.6 billion in outstanding debt, according to Reuters.
However, no new loans were signed from January to September 2024 after China lent Cambodia nearly $212 million in the same period last year, according to Reuters citing data from Cambodia's Ministry of Finance.
Cambodian Senate President Hun Sen (left) meets with Chinese Foreign Minister Wang Yi (right) in Phnom Penh on April 22.
China's Foreign Ministry did not respond to questions about the loans but said on December 11: "China and Cambodia are firmly bonded friends. We will continue to strengthen cooperation with Cambodia and support Cambodia in promoting development and improving people's lives."
Cambodian Finance Ministry spokesman Meas Soksensan did not respond to a request for comment on the data released by the ministry, according to Reuters.
However, in response to what he said was information he saw on social media about China-Cambodia relations, Meas Soksensan wrote on Facebook: "I find it funny that information is being shared that China has stopped providing loans."
“We have a lot of projects that countries will consider and will sign funding agreements, including grants and other concessional loans,” Mr. Meas Soksensan stressed.
Cambodia's borrowing has not been affected by China's decision to withhold new loans, as other lenders have lent a total of about $1 billion, nearly the same amount as they lent the Southeast Asian nation in the first nine months of last year, Reuters reported.
Since the beginning of the year, the World Bank has signed loans worth $564 million, making it Cambodia's top creditor through 2024, followed by Japan with $262 million.
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Last year, China was Cambodia’s top creditor among partner countries, providing more than $300 million for the year. Only the World Bank lent more to Cambodia last year, with $500 million in signed loans, according to official figures.
In 2022, China topped the list of lenders to Cambodia with signed loans totaling $567 million, followed by Japan and the Asian Development Bank, according to Reuters.
Source: https://thanhnien.vn/trung-quoc-khong-duyet-khoan-vay-moi-nao-cho-campuchia-trong-9-thang-185241218105743993.htm
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