Korea’s Loan with the Amount of 200 Million USD Signed

The Republic of Korea provided a loan with the amount of 200 million USD to Cambodia for the implementation of the four projects in order to develop the country. H.E. Hor Namhong, Minister of Foreign Affairs and International Cooperation and H.E. Kim Han Soo, Ambassador of the Republic of Korea to Cambodia yesterday signed an agreement for the framework arrangement concerning loans from economic development cooperation fund (EDCF) from the year 2013 to 2016 with the amount of 200 million USD under the Presidency of PM Hun Sen. The four projects are: 

1.      Project for rehabilitation of national road No. 2 and national road No.    22.

2.      Project for rehabilitation of national road No. 48

3.      Dauntri multipurpose dam development project between Battambang and Pursat province

4.      Project for improvement of rural roads on phase 2 in 9 provinces including Kampong Cham, Kampong Thom, Siem Reap, Banteay Meanchey, Battambang, Pursat, Kompong Chhnang, Kompong Speu and Takeo province.

Mr. Koy Kuong, the spokesman of the Cambodian Ministry of Foreign Affairs and International Cooperation, told the reporters after the signing ceremony that on behalf of the government of Cambodia, we would like to express our profound thanks the government and the nations of the Republic of Korea for so far providing loans and other aids so as to develop the social economy, reduce poverty as well as infrastructures development. Besides, the bilateral trade between the two countries worth over 1 billion USD in 2012, while Korean investment in Cambodia worth over 286 million USD last year. Furthermore, Cambodia imports from Korea worth over 900 million USD, while Cambodia export to Korea worth over only 70 million USD, he added. (Rasmei Kampuchea, 11 July 2013)