Japan will provide $168 million in development aid to Cambodia in 2018 to further the implementation of a number of ongoing priority projects.
The decision to provide the funds was made during a meeting last week between Chhieng Yanara, secretary general of the Cambodian Rehabilitation and Development Board of the Council for the Development of Cambodia (CDC), and Horinouchi Hidehisa, the Japanese Ambassador to Cambodia.
Representatives from the Ministry of Economy and Finance, the Ministry of Commerce, and the Japan International Cooperation Agency (JICA) took part in the meeting.
The Japanese Government confirmed its continued support to the Cambodian government’s efforts to further socio-economic development and strengthen the effectiveness of future projects.
Mr Yanara said the two sides agreed to continue strengthening cooperation through the implementation of their policy on development cooperation, focusing on promoting industrial development, improving living standards and supporting sustainable social development.
The two sides also discussed and exchanged views on the progress and the challenges in implementing past cooperation projects.
“The Japanese government’s financing accelerates poverty reduction in Cambodia as well as supports the government’s efforts to reach the goal of becoming a middle-income country by 2030,” Mr Yanara said.
“This extensive financial support also demonstrates the commitment of both sides to strengthen the strategic partnership in line with the goals of the two governments.”