16 Aug '11, 9am

Cambodia agrees land deal after World Bank halts loans: The World Bank, which has lent Cambodia up to US$70 mill...

Cambodia agrees land deal after World Bank halts loans: The World Bank, which has lent Cambodia up to US$70 mill...

The World Bank, which has lent Cambodia up to US$70 million (S$84 million) annually over the past few years, said last week it had halted loans to the country in protest over land seizures around Boeung Kak Lake, where a Chinese developer is building luxury homes. -- PHOTO: AP PHNOM PENH (REUTERS) - Cambodia, under pressure by the World Bank, said on Tuesday it had set aside prime land in the capital Phnom Penh for thousands of people forcibly evicted from their homes to make way for a Chinese development project. The World Bank, which has lent Cambodia up to US$70 million (S$84 million) annually over the past few years, said last week it had halted loans to the country in protest over land seizures around Boeung Kak Lake, where a Chinese developer is building luxury homes. About 15,000 people have been evicted from their homes and 3,500 remain in the area. Land seizures t...

Full article: http://www.straitstimes.com/BreakingNews/SEAsia/Story/STI...

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