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US Gives Money To Boost Economic Performance

The US provided $7.79 million to the government Wednesday to aid economic growth performance, as international institutions have warned of a shrinking economy.

The funds will be used to expand USAID’s program for micro-, small- and medium-sized enterprises, which seeks to alleviate poverty by increasing productivity of family businesses.

The program has helped some 3,000 farmers increase their incomes between 100 percent and 340 percent, according to US figures.

US Ambassador Carol Rodley said the program would help thousands of Cambodians and would foster new relationships in the business sector.

Deputy Prime Minister Sok An said in a ceremony the economic crisis had diminished Cambodia’s capacity for high economic growth.

“Assistance provided by the international community is crucial for contributing to bringing high economic growth back on track,” he said.

The US expects to commit $61.8 million in assistance to Cambodia this year, as the country struggles in the wake of the global financial crisis. Some international agencies have warned the countries economy could contract this year, a stark reversal from the high rates it had enjoyed in recent years. 

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Yearlong Political Deadlock Endsi
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22 July 2014
Cambodia’s political deadlock has ended. For nearly a year, the opposition Cambodia National Rescue Party has refused to join the government, calling for electoral reforms in a system it says was deeply flawed. Following nearly five hours of meetings between top opposition officials and Prime Minister Hun Sen, that deadlock has ended. The two sides finally reached agreement on a formula for selecting the National Election Committee, which the Rescue Party has said was biased toward the ruling Cambodian People’s Party. Hun Sen and Rescue Party President Sam Rainsy emerged from talks Tuesday smiling and shaking hands. “Victory,” Hun Sen told reporters after the meeting. “You can all applaud.” (Heng Reaksmey, Phnom Penh)

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21 July 2014
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You can say, "Every weekend he volunteers at the hospital working with the sick and the dying. It brings him great joy to care for others. It's his 'labor of love' to humanity." What does it mean? Watch here. For more videos - go to youtube.com/KhmerSpecialEnglish.
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