S. Korea grants Cambodia US$700 million loan for 10 development projects

• Sovandy Van
• 4 February 2020
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South Korea has agreed to grant an additional loan of US$700 million to Cambodia for 10 development projects for implementation from 2019 to 2023, according to 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 that from 1996 to 2018, South Korea provided Cambodia with more than US$300 million in grant aid.

“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 the prime minister, 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.

The expansion of National Road 2 and National Road 22 is the significant project funded by the South Korea government with the US$50-million-dollar project scheduled to break ground this month. (Read more)

In addition, the project to upgrade the road from Sre Ambel to Koh Kong currently undergoing a feasibility study, will also be funded by the South Korean government. (Read More)

• Projects Development
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