Japan to Loan US$72 Million for Preah Sihanouk Port

Japan to Loan US$72 Million for Preah Sihanouk Port

Written by DAP NEWS   --   Tuesday, 11 August 2009 02:30

Source: DAPL News, http://www.dap-news.com/

Cambodia will receive from Japan US$72 million in loans to develop the Sihanoukville Deepwater Port, a press release from Japanese embassy to Cambodia said on Monday.

“Japan will provide loan of up to ¥7,176,000,000 equivalent to appro- ximately US$72 million for the implementation of the Sihanoukville Port Multipurpose Terminal Development Project; and Grant Aid of up to ¥1,000,000,000, equivalent to approximately   US$10,000,000, for the promotion of the economic and social development efforts by the Royal Government of Cambodia,” the release said. Notes to these effects are going to be exchanged, under the presidency of Cambodian Prime Minister Hun Sen, between Hor Namhong, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, and Shinohara Katsuhiro, Japanese ambassador to Cambodia, on August 13 at the Ministry of Foreign Affairs and International Cooperation. Japan continues to be Cambodia’s top donor, it noted.