ADB lends Cambodia 8 million USD
for power line
Jul 03, 2007 - Asia Pulse Data Source
The Asian Development Bank (ADB) has
announced it will grant a loan of 8 million USD to
help Cambodia overcome major power shortage in its
northwestern region.
Tomas A. Norton de Matos, a Senior
Structured Finance Specialist with ADB said the project
will give the region access to cheaper electricity
and a much needed reliable supply. "We worked closely
with ThaiExim Bank to enable the project, which also
includes trade in Thai equipment and services, to
proceed?, he said.
The project will be a boost for
the regional economy, not just in tourism but also
in agriculture, mining and manufacturing. It is the
ADB's first private sector infrastructure project
in the country.
ADB's 8-million USD preferential loan
will go toward the cost of the estimated 32 million
USD project. The balance of funding is being provided
through equity, as well as loans from the Export-Import
Bank of Thailand and local Cambodian banks.
Areas
involved in the project include Siem Reap, Banteay
Meanchey and Battambang that will import electricity
from neighbouring Thailand.
