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  Asia-Pacific
Cambodia Holds 1st Donor Meeting
16 Donors Join Development Cooperation Forum
Cambodia boosts aid request to 689 million dollars.

It is the first time that the Cambodian government has assumed complete ownership and leadership in the conduct of this kind of high level meeting formerly known as the Consultative Group (CG) and more than 100 representatives from 16 donorcountries, including Japan and the United States, and from seven international financial organizations such as the World Bank and the International Monetary Fund are participating.

The move to replace the CG meeting with the CDCF was initiated and agreed with the development cooperation partner community during the second half of 2006 witha firm commitment of the Cambodian government to own and lead the development processes and reforms while strengthening their partnership with all development partners.

The CDCF is a forum for the Cambodian government, development cooperation partners and civil society to dialogue on public policy issues and the associated financing framework for a medium term.

In a joint statement, donors said that reforms and progress has been made by Cambodia and the country has achieved double-digit economic growth for the pastseveral years while financial management reforms have also been put in place and,diplomats and participants said they are encouraged by a more conciliatory Cambodian government because the climate has changed on both sides — there's more open dialogue and the commitment of the Cambodian Government to reform in key sector is moving forward in the right direction.

Cambodia applauded the decision made by international donors to pledge $690 million in aid for 2007, a 15 percent increase on the previous year recognizing the Cambodian Government's good governance on economic reform.

It is a win-win situation of strong and solid partnership and greater commitment between the international donors and the Royal Government of Cambodia to support Cambodian Government's economic reform and important socio-economic issues in a constructive way on its road map to future prosperity and harmony of the Cambodian People; a clear response to the conspiracy fomented by some international watchdogs hidden behind their political agenda and some crooked criticism to discredit the image of the Royal Government of Cambodia.

With peace and stability which become increasingly stronger day-by-day, the Royal Government of Cambodia is greatly committed to the reform of all sectors within framework of "Rectangular Strategy" envisioned by Prime Minister Samdech Hun Sen, for growth, employment, equity and efficiency.

Obviously, the strong economic growth in Cambodia during the last decade ismainly based on three important sources, including garment sector, tourism and construction; moreover due to particular efforts paid by the Royal Government on itswater policy, agriculture is also gaining remarkable growth for the last few years.

However, it is undeniable that whether conditions still play the role as determinant of outcome and situation in Cambodia's agriculture sector. In general, between 1994 and 2006, Cambodia has achieved average economic growth rate of over 8% per annum.

At the same time, inflation has been kept below 5% between 1994 and 2006.Per capita income has risen at an average of 6% per year from USD247 in 1994 toUSD513 in 2006. Country's international reserve has increased almost by 11 foldsfrom 100 million USD in 1994 to over 1 billion USD in 2006. Export has risen by 8 folds from 463 million USD in 1994 to more than 3.6 billion USD in 2006; remarkably, export of garment products has increased by 655 times from 4 million USD in 1994 to over 2 billion USD in 2006.

Media Inquiries:
Royal Embassy of Cambodia
To the United Kingdom of Great Britain and Northern Ireland Strategic and Diplomatic Communications Unit 64 Brondesbury Park, Willesden Green, London NW6 7AT
Tel: 020 8451 7850, Fax: 020 8451 7594
E-mail: cambodianembassy@btconnect.com
Web-site: www.cambodianembassy.org.uk




 

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