S. Korea Pledges to Provide US$200 Million in Loan to Cambodia from 2013 to 2016

AKP Phnom Penh, July 10, 2013

The Government of the Republic of Korea (Rok) will extend US$200 million in loan to Cambodia from 2013 to 2016 to improve its physical infrastructure.

The Framework Arrangement Concerning Loans from Economic Development Cooperation Fund (EDCF) between the Government of RoK and the Royal Government of Cambodia was signed here this morning by Cambodian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation H.E. Hor Namhong and Ambassador of RoK to Cambodia H.E. Kim Han-soo.

The signing ceremony was witnessed by Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia.

The financial assistance will be used to rehabilitate National Roads No. 2, 22 and 48, develop Dauntri Multipurpose Dam between Battambang and Pursat provinces, and improve rural roads on phase 2 in nine provinces including Kampong Cham, Kampong Thom, Siem Reap, Banteay Meanchey, Battambang, Pursat, Kampong Chhnang, Kampong Speu, and Takeo.

To date, the Korean government has committed US$378 million (concessional loans) for 13 EDCF projects, according to a press release from the Embassy of RoK.

Since 1991, RoK has contributed US$105 million of grant assistance through Korea International Cooperation Agency (KOICA)’s 38 projects to Cambodia, it added.

By So Sophavy