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Japan notes $50 million in aid to Kingdom this year

Khuon Narim / Khmer Times Share:
Foreign Affairs Minister Prak Sokhonn signs an agreement with Japan. KT/Khem Sovannara

Japan yesterday signed an Exchange of Notes to provide aid to Cambodia worth $4.6 million, bringing the country’s development assistance to the Kingdom this year to more than $52 million.

Foreign Affairs Minister Prak Sokhonn and Japanese Ambassador Horinouchi Hidehisa yesterday at the ministry signed the Exchange of Notes and related documents on the aid, which is valued at 500 million Japanese Yen, or about $4.6 million, to support economic and social development.

Mr Sokhonn expressed gratitude to the Japanese government, noting that Japan is one of the largest donors in assisting Cambodia’s priority development needs since the 1990s.

“Japan’s grant aid as well as its concessional loans in the past and today will contribute significantly to the successful implementation of social-economic development policies and eradicating poverty, and supporting Cambodia to reach upper-middle income status by 2030,” he said.

Mr Sokhonn noted that in February, Japan granted funding and provided a loan worth $43.36 million for the West Tonle Sap Irrigation and Drainage Rehabilitation and Improvement Project 2, as well as for the implementation of the Project of Development of Port Electric Data Interchange System for Port Modernisations.

In May, a funding of about $4.8 million was signed in Tokyo for the development of human resources and the Container Freight Station project at Sihanoukville Autonomous Port in the region’s Special Economic Zone.

Mr Sokhonn said Cambodia and Japan have also enjoyed growing economic relations, commercial, investments, tourists and people-to-people connections, as well as exchanges of official visits between the two countries that lead to a strengthened friendship and the promotion of its strategic partnership.

“On behalf of the Royal Government and the Cambodian people, I am thankful to the government of Japan and its people for the social economic development cooperation with Cambodia,” he said.

Ambassador Hidehisa said that after the signing ceremony, Japan will provide equipment to repair roads, as included in the agreement, noting that road expansion is necessary to serve the economic growth in the country, which is projected to expand by seven percent this year.

“Recently, Japan supported repairs to National Road 1 and National Road 5 under its grant aid and also providing a concessional loan,” Mr Horinouchi said. “I’ve known that other roads have been built and fixed by the government with assistance from other countries.”

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