Cambodian PM hails China for initiatives on AIIB, Silk Road Fund

PHNOM PENH - Cambodian Prime Minister Hun Sen on Monday lauded China for the initiatives on the establishment of the Asian Infrastructure Investment Bank (AIIB) and the Silk Road Fund, saying that these are the important sources of capital for developing countries.

"The lack of capital is a main obstacle for countries in the development of infrastructure, so China's initiatives for the AIIB and the Silk Road Fund are very useful," he said during the inauguration of a Chinese-invested hydropower dam in Koh Kong province. "I fully support these initiatives."

The AIIB, with an authorized capital of $100 billion, is expected to get into operation before the end of 2015, and the Silk Road Fund with China's contribution of $40 billion was announced by Chinese President Xi Jinping last November 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.