Cambodia to receive US$700 million loan from S.Korea for ten development projects
Cambodia to receive US0 million loan from S.Korea for ten development projects
South Korea agreed to grant an additional loan of US$700 million to Cambodia for ten development projects from 2019 to 2023, says Samdech Techo Hun Sen, Prime Minister of Cambodia.
During his meeting with Cambodian citizens in South Korea on 3 February 2020, Samdech Hun Sen said from 1996 to 2018, South Korea provided Cambodia with more than US$300 million grant aids.
“In 2019 alone, Cambodia received a total grant aid of US$17 million, and another US$24 million is planned for 2020,” said Samdech Hun Sen.
“In addition, South Korea has already agreed to provide us with another US$700 million loan from 2019 to 2023,” said Samdech Hun Sen.
According to him, as of November 2019, the South Korean government has provided a total of US$ 889 million for 23 development projects, of which only approximately US$ 442 million was spent.
Among all, the expansion of National Road 2 and National Road 22 is one of the significant projects funded by the South Korea government. This US$50-million-dollar project is scheduled to break ground this month. (Read more)
Moreover, the road upgrading project from Sre Ambel to Koh Kong, which is currently under a feasibility study, will also be funded by the South Korean government. (Read More)
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Source: construction property news