Japan inks deal to provide $43 million in aid for projects

Ben Sokhean / Khmer Times No Comments Share:
Foreign Affairs Minister Prak Sokhonn and Japanese Ambassador to Cambodia Hidehisa Horinouchi signed the Exchange of Notes. KT/Khem Sovannara

Foreign Affairs Minister Prak Sokhonn and Japanese Ambassador to Cambodia Hidehisa Horinouchi today signed the Exchange of Notes on extending support for two development projects in the Kingdom.

The signing ceremony for the Japanese funding of more than $43 million was held at the Ministry and attended by senior officials from various ministries, including Water Resources, Transportation, Economy and Finance, and Japanese embassy officials.

According to the Foreign Affairs Ministry, the Japanese government is providing a loan of up to $31.56 million for the implementation of the West Tonle Sap Irrigation and Drainage Rehabilitation and Improvement Project 2.

It said Japan is also giving $11.8 million in grant aid for the implementation of the Project of Development of Port Electric Data Interchange System for Port Modernisations.

The loan and grant aid package has been extended by the Japanese’s Government to further promote the economic and social development in Cambodia.

Speaking during the ceremony Mr Sokhonn said the grant aid and loan package would go towards the continuing implementation of the government’s “Rectangular Strategy-Phase IV” policy.

He said the strategy focuses on “Improving the logistics system and enhancing transport, energy and digital connectivity” and “Promotion of agricultural and rural development”.

Exchange of Notes

WATCH: Deputy Prime Minister and Minister of Foreign Affairs Prak Sokhonn, and the Ambassador of #Japan to #Cambodia, Hidehisa Horinouchi, signed the Exchange of Notes on Wednesday, Feb.19, extending Japan’s loans and grants of $43 million. KT/Ben Sokhean

Posted by Khmer Times on Tuesday, 19 February 2019

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