Cambodia, RoK Agree on US$500 Million Worth Projects 2016-2018

The 2nd Political Consultative Meeting on Development Cooperation between the Royal Government of Cambodia and the Government of the Republic of Korea (RoK) was held in Phnom Penh on Nov. 30.

The Cambodian side was headed by Secretary of State for Economy and Finance H.E. Vongsey Vissoth and the Korean side was led by Mr. Kim Yoon Kyung, Representative of the Ministry of Strategy and Finance.

The meeting is aimed to continue the partnership policy as well as to provide opportunity for both parties to exchange ideas, visions and other prioritised policies in the framework of official development assistance (ODA) of Korea, both grant financing, concessional loans and technical assistance, in accordance with the prioritised sectors of Cambodia's development strategies and Korea's cooperation policy, said H.E. Vongsey Vissoth after the meeting.

The two sides agreed in principle on development projects for 2016-2018 rolling plan and other inter-sectoral projects such as Save Life for All, Waste Water Treatment System Development Project in Takhmao town, industrial infrastructure project in Preah Sihanoukville, and so on, he added.

All these public investment projects will need a total budget of over US$500 million, of which some US$300-400 million are grant financing, underlined H.E. Secretary of State.

Source: Agency Kampuchea Press