China Provides 4.3 Mln USD From LMC Special Fund 2022 To Cambodia

PHNOM PENH, (UrduPoint / Pakistan Point News - 13th Jun, 2022 ) :China on Monday provided over 4.3 million U.S. Dollars from the Lancang-Mekong Cooperation (LMC) Special Fund 2022 to Cambodia for carrying out 13 projects in the kingdom.

Chinese Ambassador to Cambodia Wang Wentian and Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn signed the agreement on the transfer of the fund here.

The new projects focused on the areas of environmental protection, digital economy, aviation, housing, com-batting fake news, immigration and border control, etc.Speaking at the signing ceremony, Wang said that for five consecutive years, Cambodia have harvested a total of 80 LMC Special Fund projects, with the cumulative budget of more than 31 million U.S. dollars.

"Cambodia has always been a major participant and promoter of the LMC from the very beginning," he said. He added that the LMC has become a most dynamic emerging cooperation mechanism and that since the COVID-19 pandemic outbreak, the six LMC countries have vigorously carried out cooperation to fight the pandemic and boost economic recovery.

Wang said China is ready to work with Cambodia and other LMC countries to boost the post-pandemic economic recovery and maintain the security of all LMC countries towards a community with a shared future.

The six LMC countries include China, Myanmar, Thailand, Laos, Cambodia and Vietnam. Sokhonn said since its launch in 2016, the LMC Special Fund has delivered tangible outcomes and contributed to enhancing the socio-economic development of the LMC countries.

"We have further narrowed our development gaps through integrated and inter-connected development, and have strengthened our capacity to better respond to the needs of our peoples," he said.

He also extended his profound appreciation for the ongoing contribution and support provided by the people and government of China to Cambodia.

"Despite the impact of the COVID-19 pandemic along with other global and regional challenges, we are here today to celebrate and demonstrate our resilience through this consistent milestone to reaffirm our belief and commitment in this development-focused multilateral cooperation," he said.

"These new projects will further contribute to addressing the developmental needs in Cambodia in the field of rural development, water resources, agriculture, environment, capacity building, and cultural heritage," he added.

China initiated the LMC Special Fund during the first LMC Leaders' meeting in Sanya of southern China's Hainan province in March 2016 with the aim of supporting the small and medium-sized cooperation projects put forward by the six LMC countries.

Sokhonn said all LMC-funded projects "have tremendous positive impacts on the lives of the people through resilient and robust economic and social development, as well as contribute to enhancing the livelihood of the people across the sub-region."He reaffirmed Cambodia's commitment to working closely with China and all LMC countries to further enhance the LMC to a new height, so as to build a more open and inclusive community of shared future of peace, prosperity and sustainable development.