Cambodia Requests More Loans from the Bank of China to Further Develop Agricultural Sector

Minister of Commerce H.E. Pan Sorasak has requested the Bank of China to provide more loans to Cambodia to further develop its agriculture, said a news release of the Ministry of Commerce (MoC) issued after the minister's recent meeting with Mr. Chen Changjiang, CEO of the bank's Phnom Penh branch.

The MoC, according to H.E. Minister, was implementing on-site rice dryer construction projects in order to help buy rice from the farmers directly and increase the country's rice-export capacity, emphasising that the loans from the bank would help the ministry succeed in these projects.

H.E. Minister also thanked the Bank of China for their investment in Cambodia and their contributions in attracting more Chinese investors into the country.

Mr. Chen Changjiang accepted the request and would see to its actual possibilities. He also requested H.E. Minister to sign the Memorandum of Understanding between the MoC and the Bank of China in order to create a Chinese desk at the ministry to facilitate Chinese businessmen in the country, give way to payment through WeChatPay or Alipay, and cooperate in e-commerce sector.

H.E. Pan Sorasak suggested that the Bank of China drafts the above proposal to be submitted to the MoC for consideration and implementation.

Source: Agency Kampuchea Press