Chinese banks will be lending USD591 million to Cambodia’s largest mobile phone company to help it pay its contract with Huawei Technologies, a Chinese telecommunications group. The loan is the biggest financing initiative of its kind in Cambodia and reflects China’s growing influence in the Southeast Asian country’s economy, the Financial Times reports.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.