RoK To Provide Over US$400 Million in Loans to Cambodia

Two documents on loans from the Republic of Korea (RoK) to Cambodia worth more than US$400 million will be signed here tomorrow between Cambodian Senior Minister H.E. Prak Sokhonn, Minister of Foreign Affairs and International Cooperation and Ambassador of RoK to Cambodia H.E. Kim Weon Jin.

According to a press release of the Ministry of Foreign Affairs and International Cooperation made public this afternoon, the first document will be the Framework Arrangement concerning Loans from the Economic Development Cooperation Fund (EDCF) for the period 2016-2018 with the amount of US$350 million to be utilised to finance the priority projects relating to the fields of infrastructure, irrigation, health, rural road and sewage system.

The second document will be the Arrangement concerning a Loan from EDCF for Upgrading of National Road No. 48 Project with the amount of US$67,434,000, it added.

The continued support from the RoK has well responded to the efforts of the Royal Government of Cambodia in improving socio-economic development as well as has contributed to maintain steady economic growth, underlined the press release.

Source: Agency Kampuchea Press