A new loan agreement worth $64 billion was signed between Cambodia’s Ministry of Economy and Finance and South Korea’s Economic Development and Cooperation Fund (EDCF) via Korea Eximbank at the ministry yesterday, amid political criticism from the West on the current setback for democracy.
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Cambodia has received a concessional loan from the South Korean government to build a waste water treatment in Takmao town in Kandal province, reflecting confidence from the foreign development partner in Cambodia.
“The Takmao Waste Water Treatment Project is an infrastructure development serving multiple purposes, including the beauty of the town, drainage systems and environmental improvement for the people,” the ministry said.
Aun Pornmoniroth, Minister of Economy and Finance, said at the signing ceremony that the South Korean government had always supported the development of Cambodia through financial assistance since the first loan in 2001.
“Up to today, the Cambodian government has had concessional loans from the South Korean government’s EDCF for 21 agreements totaling $763 million for development of Cambodia’s priority physical infrastructure,” he said.
“This proves the trust and the high evaluation by the South Korean government of the Cambodian government in contributing to the development of the infrastructure master plan as well as responding to the needs of the country’s development.”
The ministry said the project aimed to build a waste water treatment plant in Takmao town that could purify 7,600 cubic metres per day.
It also included construction of waste water pools connected to another ten waste water pumping stations, and a silo to contain the waste connected by a 55km pipe.
There would also be restoration of 16.2km of river, restoration of the old waste pumping station and construction of a new water gate.