Business / Economy

Cambodian PM reiterates support for China-initiated AIIB, Silk Road Fund

(Xinhua) Updated: 2016-03-07 15:52

PHNOM PENH - Cambodian Prime Minister Hun Sen on Monday reiterated the country's support for the China-initiated Asian Infrastructure Investment Bank (AIIB) and Silk Road Fund, saying that they are key sources of capital for infrastructure development.

"We particularly welcome the recent establishment of the AIIB, initiated by China but now involving a strong international partnership of multilateral and bilateral agencies," he said in a speech at the opening ceremony of the 2016 Cambodia Outlook Conference here.

"Cambodia, as a founding member, will greatly benefit from this bank in terms of infrastructure investment needs," the premier said.

He also expressed his welcome to the Silk Road Fund, saying that it would support connectivity development initiatives along the land and maritime routes that link Southeast, East, South and Central Asia.

The AIIB, with an authorized capital of $100 billion, started operational in Beijing in January this year, and the Silk Road Fund with China's contribution of $40 billion was announced by Chinese President Xi Jinping in November 2014 in Beijing.

The two sources of funding are aimed to provide financial support to regional infrastructure development projects in the framework of the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

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