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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: International donors pledge nearly 1 bln dollars to Cambodia: govt AFP - Saturday, December 6 PHNOM PENH (AFP) - - International donors on Friday pledged nearly one billion dollars to Cambodia, its government said, their most generous aid package ever to the impoverished Southeast Asian nation despite the global economic downturn. In a statement ending a two-day donors' meeting in Phnom Penh, Cambodia's Finance Minister Keat Chhon announced pledges totalling 951.5 million dollars in development aid for 2009. "This is the week of one billion dollars... we have achieved a huge success," Keat Chhon told reporters later, adding in a statement that some countries were still to make their pledges, including the United States as it remains in transition between presidents. Keat Chhon said China had made the biggest pledge of 257 million dollars, while Japan gave 113 million dollars and EU countries pledged 214 million dollars in total. Cambodia's World Bank country manager, Qimiao Fan, said the aid would "help Cambodia to grow and to reduce poverty." Speaking on behalf of donors, Fan urged the government to use the aid effectively and pass a new anti-graft law quickly in order to "send a strong signal to the donor community and to investors in Cambodia so that they have the confidence that they can make more long-term commitments to Cambodia." Cambodian Prime Minister Hun Sen on Thursday opened the meeting promising foreign donors he would fight corruption with the new law as soon as possible. Donors last year pledged 689 million dollars to the country, despite strong concerns over rampant corruption and demands by rights groups that donors get tough on the government's apparent refusal to reform. While still among one of the world's poorest countries, Cambodia has emerged from decades of conflict as one of the region's rising economies. It has posted annual economic growth averaging 11 percent over the past three years on the back of strong garment and tourism sectors. But the International Monetary Fund recently said Cambodia's economy was expected to flounder next year as the world crisis deepened. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Biggest months of job gains and lossesAP - 1 hour 17 minutes ago Reds become latest MLB team to hold ticket pricesAP - 2 hours 1 minute ago Stocks turn higher after dismal jobs reportAP - Saturday, December 6 Nissan suspends plan to cut 1,680 jobs in SpainAFP - Saturday, December 6 Related Articles: Business Inflation at 32.7 percent in Venezuelan capitalAP - 31 minutes ago Automakers look to consolidate dealer ranksAP - 34 minutes ago Workers recall the moment they became joblessAP - 37 minutes ago Farmers target EPA report they say might tax cowsAP - 54 minutes ago TOPWRAP 11-US bleeds jobs, markets hope for more stimulusReuters - 58 minutes ago Enlarge Photo International donors pledge nearly 1 bln dollars to Cambodia: govt Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Do not disturb eggs: MP reveals Britain's oddest laws Cruise ship runs aground in Antarctica Fate of auto giants hangs by thread Diamond thieves pull off 100-million-dollar Paris heist Central banks slash interest rates to drive back recession View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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