Welcome to ODA News in Cambodia, Dear Reader In this Blog, We would like to introduce ODA (Official Development Assistance) in Cambodia. Therefore, the readers and researchers could find the donor countries which provide grant aid and loan to the Royal Government of Cambodia in this blog. We try to do our best to find out the news related to ODA in Cambodia to publish in this blog. If you have any inquiries or information, please feel free to contact us via HP: 855-11-774 085 or Email: hortsroeu@gmail.com (Working Day: Monday - Friday, from 8:00 AM to 5:30PM). Best Wishes,.
You can listen to the MP3 player in the site by clicking this image:

Wednesday, November 16, 2011

South Korea provided $52.5 million in loans to Cambodia

Print Friendly and PDFPrintPrint Friendly and PDFPDF



Cambodia and South Korea Sign Loan Agreement

Cambodian Deputy Prime Minister H.E. Keat Chhon, Minister of Economy and Finance and Mr. Sang-Wan Byun, Executive Director of Import-Export Bank of the Republic of Korea, sign in Phnom Penh on Nov. 14 the 12th loan agreement with an amount of over 52.5 million US dollars for the improvement of Cambodia’s National Road No. 21 Project. Photo: Hun Yuth Kun

AKP Phnom Penh, November 15, 2011 –Cambodia and the Export-Import Bank of the Republic of Korea have signed a loan agreement for the improvement project of Cambodia’s National Road No. 21.

The agreement was signed here on Nov. 14 by Cambodian Deputy Prime Minister and Minister of Economy and Finance H.E. Keat Chhon and Mr. Sang-wan Byun, executive director of Export-Import Bank of S.Korea.

Under the just signed agreement, S. Korea will provide US$52.54 million in loan with an interest of 0.01 percent per year and to be paid over the next forty years.

This is the 12th loans provided by S. Korea to Cambodia, bringing the total S. Korea’s concessionary loans to Cambodia to US$341.4 million.

The loan will be used for the renovation of the 63.5-kilometer-long National Road No. 21, which connect Takhmao town of Kandal province to Chrey Thom (Cambodia-Vietnam border).

S. Korean Ambassador to Cambodia H.E. Chang Ho-jin and high-ranking officials from the Council of Ministers, the Ministry of Foreign Affairs and International Cooperation, the Ministry of Public Works and Transport and the Council for the Development Cambodia were also present at the signing ceremony.

By LIM Nary

LinkWithin

Related Posts Plugin for WordPress, Blogger...
 
Copyright © 2011ODA NEWS IN CAMBODIA. All Rights Reserved.