PHNOM PENH ¨C At a ceremony in August, Cambodia¡¯s leader, Hun Manet, knelt to receive blessings from saffron-robed monks as fireworks and balloons heralded the breaking of ground for a canal he hopes will transform his country¡¯s economic fortunes.
Addressing hundreds of people waving the Cambodian flag, Hun Manet said China would contribute 49% to the funding of the Funan Techo Canal that will link the Mekong River to the Gulf of Thailand and reduce Cambodia¡¯s shipping reliance on neighboring Vietnam.
Cambodia¡¯s government estimates the strategic infrastructure project will cost $1.7 billion, nearly 4% of Cambodia¡¯s annual gross domestic product.
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