The Japanese government yesterday pledged approximately $310 million to the Kingdom for the implementation of five projects which promotes economic and social development.
Of these, three will be financed through grant aid while the remaining two will be funded through a soft loan programme, a press release from the Ministry of Foreign Affairs said.
Among the projects getting the grant aid are the expansion of water supply system in Kandal province’s Takhmao city with approximately $31 million, the Integrated Mine Clearance and Landmine Victim Assistance with $9 million and the Economic and Social Development Programme with $2.7 million.
The soft loan-funded projects are the National Road 5 Improvement Project Phase II ($161 million) and Phase III ($106.5 million).
“The above grant aid and loan assistance extended by the government of Japan will significantly contribute to promoting the economic and social development of the Kingdom and will further strengthen the bonds of friendship and cooperation between the two nations,” the ministry said.
Prime Minister Hun Sen will preside over the signing ceremony of the Exchange of Notes on the extension of the Japanese government’s Official Development Assistance at the capital’s Peace Palace today. The signatories will be Foreign Affairs Minister Prak Sokhonn and Japanese Ambassador Mikami Masahiro.
Preap Lon, 64, a resident living along National Road 5, said Japan’s assistance on the renovation of the road will provide several benefits to Cambodian people, including better traffic flow and a decline in traffic accidents.
“Once the renovation is completed, it would be easier to travel. The road was narrow previously. There were also many traffic accidents at night due to bumpy roads and reckless driving. So, this renovation will be good and beneficial for the motorists,” said Mr Lon.