Chinese "Belt and Road" initiative to help Cambodian infrastructure development: senate official

Chinese "Belt and Road" initiative will give greater possibility for Cambodia to access loans for infrastructure connectivity development, boost trade, and encourage more Chinese investors and tourists to Cambodia, said Oum Sarith, Secretary-General of the Senate of Cambodia, on Wednesday.

Told a lecture at a conference hall of the Senate here, Sarith said the initiative would contribute to enhancing peace, security, development and cooperation among countries along the routes through people-to-people exchanges and connectivity.

Chinese Ambassador to Cambodia Bu Jianguo also delivered the lecture on the China-proposed "Belt and Road" initiative to approximately 100 Cambodian officials and students.

Bu said the Silk Road Economic Belt, together with the 21st- Century Maritime Silk Road, commonly known as the "Belt and Road" initiatives, were proposed by Chinese President Xi Jinping in 2013.

"The Belt and Road initiative mainly aims to boost cooperation in diplomatic exchange, infrastructure inter-connectivity, economy, trade and investment, as well as people-to-people relations among the countries along the routes," she said.

To support this initiative, Chinese President Xi Jinping had initiated the establishment of the Asian Infrastructure Investment Bank (AIIB) with the initial capital of 100 billion U.S. dollars, the ambassador said.

"Currently, 57 countries, including Cambodia, have joined the AIIB as founding members," she said.

Moreover, in November last year, Xi also announced the Silk Road Fund with China's contribution of 40 billion U.S. dollars.

Cambodia is located along the 21st Century Maritime Silk Road and the country will definitely benefit from the initiative, Bu said.

"Belt and Road initiative will provide new opportunities for China and Cambodia to deepen all rounds of cooperation," she said. Endi