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August 05, 2007 Sunday Rajab 20, 1428





Cambodia’s financial issues


PHNOM PENH, Aug 4: World Bank President Robert Zoellick arrived in Cambodia on Saturday for talks expected to focus on nationwide corruption and bank-supported projects hit by graft scandals.

Zoellick, who took office in July, is to meet with Cambodian Prime Minister Hun Sen on Sunday on his first visit to the kingdom, forming part of his first official tour of Asia.

Zoellick's visit comes as Cambodia continues to pay back millions of dollars siphoned off in a massive corruption scandal that forced the World Bank to suspend three key aid projects last year.

The programmes have since been reinstated, but the bank has demanded Cambodia repay $2.9 million after contractual irregularities involving agricultural and flood prevention funds were discovered.—AFP






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