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Friday, March 31, 2017

Japan gives $140 million to Cambodia

Japan’s ambassador Horinouchi Hidehisa (left), Prime Minister Hun Sen and Foreign Minister Prak Sokhonn. KT/Chor Sokunthea

Japan gives $140 million to Cambodia

The Khmer Times | 31 March 2017

The Japanese government agreed yesterday to provide Cambodia with about $140 million in grant aid and concessional loans for infrastructure, healthcare, water supply and flood protection.
 
The deal, signed by Foreign Minister Prak Sokhonn and Japanese Ambassador to Cambodia Horinouchi Hidehisa, was witnessed by Prime Minister Hun Sen at the Foreign Affairs Ministry.
The deal will see $98 million in concessional loans to cover the cost of renovating National Road 5 from Battambang province to Sisophon town in Banteay Meanchey province.
  

The remaining $42 million will go towards expanding the water supply system, flood protection and generally enhancing people’s well-being.
 
“This development assistance will play a significant role in propelling the kingdom’s economic growth and will also improve Cambodian people’s living conditions,” Mr. Sokhonn said.

 
Mr. Hidehisa said $12.66 million will be spent on new buildings and medical equipment for the Battambang provincial referral hospital, about $950,000 will be used for flood protection and drainage improvement in Phnom Penh and about $28.5 million will be used to expand the water supply system in Kampong Thom province.
 
He added that the renovation of National Road 5 was important because it is a connecting road used to transport goods from Phnom Penh to Bangkok.
 
“We hope these projects will contribute to Cambodia’s socio-economics and increase bilateral cooperation between both countries,” Mr. Hidehisa said.  
 
The projects are expected to improve Cambodia’s regional connectivity and enhance people’s well-being with improved health facilities, an expanded water supply system and flood protection.
 
In July 2015 at the Seventh Mekong-Japan Summit, the Japanese government pledged a budget of about $6.1 billion to assist five countries in the Mekong sub-region – Cambodia, Laos, Myanmar, Thailand and Vietnam – as part of a new strategy for Mekong-Japanese cooperation from 2016 to 2018.
 
Japan is one of Cambodia’s most important partners and has significantly contributed to the kingdom’s economy, society and infrastructure development.

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