S. Korea provides 30 mln USD loan to Cambodia to equip gov't IT system

S. Korea provides 30 mln USD loan to Cambodia to equip gov't IT system

July 21, 2007

The South Korean company Kisan Telecom Co. Ltd has signed an agreement with the Cambodian government to provide a loan of 30 million U.S. dollars for the public Information Technology (IT) system project in Cambodia, local media reported on Friday.

The loan will be used to equip the government's IT management system, including Internet access for government institutions in 10 provinces and cities of Cambodia, the Raksmey Kampuchea newspaper said.

The agreement was signed by Cambodian Deputy Prime Minister Sok An and Park Byung Ki, CEO of Kisan Telecom company, on behalf of both sides, the newspaper added.

IT system has become a key role in the whole society and Cambodia needs to have and develop IT system management in government institutions, Sok An was quoted by the newspaper as saying. Cambodia also needs more human resources for IT system management, he added. 

This is the second time for a South Korean company to provide loan with low interest rate for Cambodia to equip the government IT system. In the previous time, a South Korean company provided a loan of 20 million U.S. dollars for the Cambodian government.

Source: Xinhua