Korea to Sign Arrangement with Cambodia for Four New Grant Aid Projects to Start in 2014

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[Pictures at signing ceremony at Ministry of Foreign Affairs and International Cooperation , June 02, 2014] Photograph: KOICA Cambodia Office

Phnom Penh (KOICA, June 2, 2014): South Korea made an additional commitment of 21 million USD in grant assistance for Cambodia to start this year.

H.E. Kim Han Soo, Ambassador Extraordinary and Plenipotentiary of the Republic of Korea to Kingdom of Cambodia, and H.E. HorNamhong, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, signed the Framework Arrangement that lists four (4) new projects to start in the year 2014 on behalf of their respective Governments at a ceremony held on Monday, June 02, 2014 at 10:30 am at the Ministry of Foreign Affairs and International Cooperation.

The purpose of this Framework Arrangement is to set forth the Korea’s contribution in the following four (4) grant aid projects totaling twenty one million US dollars (US$ 21, 000,000), to be implemented by the Korea International Cooperation Agency (KOICA). They are: a) Self-Supporting Rural Development Project with Saemaul Undong’s Participatory Approach (USD 8 million); (b) Project for Securities Market Development in Cambodia worth (USD 2.5 million);(c) Project for Feasibility Study on Waterway Improvement for Port Logistics Development in Cambodia with cost of (USD 5.5 million), and (d) Cambodia Health Sector Support Program(HSSP) (USD 5 million).

The Framework Arrangement is a part of the Framework Agreement on Grant Aid between the Government of the Republic of Korea and the Royal Government of Cambodia signed on June 4, 2009. According to the frameworks, Korean assistance aims for poverty reduction and sustainable economic and social development of the Kingdom of Cambodia through grant aid as well as further strengthening of the friendly relations between the two countries.

Upon completion, the “Self-Supporting Rural Development Project with Saemaul Undong’s Participatory Approach” will help (1) develop a community-based rural development policy following the great success of Saemaul Undong (SMU) in terms of villagers’ participation and collective decision, and strengthen the basis for the SMU model to spread throughout the nation, (2) mainstream capacity development at all levels¾from the central government to village committees¾by spreading SMU’s three guiding principles of diligence, self-help and cooperation, and (3) provide an essential outlet for the sustainability of SMU rural communities in Cambodia by ensuring the success of the pilot projects in terms of income increase, improvement of living conditions community empowerment.

“Project for Securities Market Development in Cambodia” is aimed at further developing still nascent Cambodian securities market, by strengthening institutional capacities and relevant human resources while promoting further exchange of knowledge and experience between Korea and Cambodia. The Project will contribute to facilitating robust growth of financial and industrial sectors in Cambodia, ultimately enhancing socioeconomic growth of the country.

“Project for Feasibility Study on Waterway Improvement for Port Logistics Development in Cambodia” is aimed at ensuring navigational safety and enhancing waterway in Cambodia through thorough bathymetric survey, soil survey, basic and detail design, environmental impact review including measures for bank erosion prevention, for dredging in the designated parts of the Mekong River. The research results will play an important role for sound policy formulation relevant to improving inland and international logistics, port functions and environment by the Cambodian government, ultimately contributing to a balanced socioeconomic development of the country.

“Cambodia Health Sector Support Program (HSSP)” is to support RGC in the implementation of the Cambodian government’s Health Strategic Plan 2(HSP2). The aim of HSP2 is to ensure access to equitable, quality health care for all people of Cambodia through targeting resources especially to the poor and to areas in greatest need.

Republic of Korea considers Cambodia a priority partner country. Under the Korea’s Official Development Assistance (ODA) umbrella, various socio-economic development projects have been implemented by KOICA. These include 42 bilateral projects, inviting a total of 2,218 trainees to Korea, dispatching of 326 volunteers and joint projects with CSOs, corporations and Korean universities. Most importantly, annual grant aid volume in Cambodia has been largely increasing, peaking at 24 million USD in 2013.

All of Korea’s ODA activities in Cambodia are to be based on the Country Partnership Strategy (CPS) 2012-2015. The KOICA Cambodia Office focuses assistance portfolio on four priority sectors identified in CPS – agriculture and rural development, infrastructure, human resource development, and health. These four priority sectors align with Cambodia’s National Strategy Development Plan (NSDP). To foster more sustainable development in the country and forge a stronger partnership with the Cambodian counterparts, the Republic of Korea pledges new grant aid commitment every year. /End/

To contact the reporter on this story: Mr. Hort Sroeu at hortsroeu@gmail.com