Cambodia needs $5.23 billion for 519 development projects in the ongoing three-year public investment program (PIP) that was approved by the Council of Ministers on Friday, according to a government media release.
The PIP prepared and issued by the Ministry of Planning is a three-year rolling plan that reflects the government’s priorities for capital and technical assistance to implement its 2014-2018 National Strategic Development Plan (NSDP).
According to the media release from the Office of the Council of Ministers, Cambodia needs about $1.74 billion yearly to implement 519 development projects in the three-year period. The Council of Ministers added that between 2017 and 2019, for 149 projects to be implemented, a total of $2.595 billion was needed. For the remaining 370 projects to be carried out, a total of $2.639 billion had to be committed.
The PIP is prepared based on inputs provided by government ministries and agencies to meet the goals of the NSDP.
“The main purpose of PIP is to ensure the economic growth of around seven percent per annum and to reduce poverty, particularly in rural areas through agricultural and rural development,” said the media release.
Prime Minister Hun Sen said during the Council of Ministers’ meeting that the 2014-2018 NSDP was the core document for managing and developing the country’s public sector.
“Since 1996, the Ministry of Planning has been responsible for the preparation of the annual rolling three-year PIP to reflect the priorities of the Royal Government for capital and technical assistance needs to implement its development strategies,” said Mr. Hun Sen.
Spokesman for the Council of Ministers, Phay Siphan told Khmer Times that the rolling three-year PIP was reviewed every two years to ensure the outputs in the performance indicators were on track with the government’s five-year development plan.
Mr. Siphan pointed out that the budget of the 2017-2019 PIP was nearly the same as the 2015-2017 PIP allocations.
“The government will now review each ministry’s activities as listed in the 2017-2019 PIP to determine whether they had reached the 2015-2017 PIP target, taking into account their current challenges,” he said. “We want to ensure there is good governance and transparency.”
“The process of further refining the PIP is an on-going activity and we have a working group for various line ministries to monitor and evaluate the status of their project implementation,” added Mr. Siphan.
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