Over US$45 Million Financing from Japan for Cambodia’s Development Projects

Japan has provided nearly 5,000 million Yen or US$45.3 million as loan and grant aid to develop two key projects in Cambodia, according to the Ministry of Economy and Finance.

The financing agreements were signed by H.E. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance and H.E. Yuichi Sugano, Chief Representative of Japan International Cooperation Agency (JICA) Cambodia Office here in Phnom Penh yesterday.

Of the total amount, US$33.5 million is a loan to support the phase-two implementation of the West Tonle Sap irrigation and drainage rehabilitation and improvement project.

The rest US$11.8 million is a grant aid for the implementation of the so-called project of development of port electric data interchange (EDI) system for port modernisations.

The agreement formalisation was made following the exchange of notes on the extension of the financial support signed on Feb. 20 between Cambodia’s Ministry of Foreign Affairs and International Cooperation and Japanese Embassy in Cambodia.

In 2018, the Government of Japan through JICA signed documents on official development assistance valued at more than US$132 million for Cambodia, including nearly US$15 million as grant aid and over US$117 million as concessional loan.

Source: Agency Kampuchea Press