Korea’s Grant to Cambodia Reaches US$80 million

H.E. Mr. Chang Hojin, Ambassador of the Republic of Korea at the Ground Breaking Ceremony at RUPP on December 22, 2011. Picture from KOICA Cambodia Office

As a result of good cooperation between the two countries, development cooperation is playing vitally important roles in Cambodia and even makes it become Korea’s significant cooperation partner, said H.E. Mr. Chang Hojin, Ambassador of the Republic of Korea in the ground breaking ceremony for the construction of human resource development building at RUPP on 22 December 2011.

He continued that Korea’s ODA for Cambodia has been on the increase, and till this year, the grants and soft loans have reached US$80 million and US$ 340 million respectively.

To make it consistent with Rectangular strategy and National Strategic Development Plan, we have created Country Partnership Strategy for Cambodia including grants and soft loans. Korean government will continue to closely cooperate with Cambodian government for the sake of Cambodia’s economic development.

In addition, to help promote above-mentioned plan and strategy, KOICA has put all great efforts to increase aid effectiveness by applying Principle of Selection and Concentration and puts focus on 4 sectors: 1.) Education and human resource development, 2.) Agricultural and rural development, 3.) Health and 4.) Infrastructure, he added. (Rasmei Kam, 25-26 December 2011.)