PHNOM PENH –
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.