S. Korea agrees to provide Cambodia US$1.2bn new loan package for priority projects

• 30 March 2022
• Local News
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The government of South Korea has pledged to provide additional concessional credit packages through a new Framework Arrangement of about US$1.2 billion to Cambodia from 2022 to 2026.

The new concessional loan package was announced at a meeting between Minister of Economy and Finance HE Aun Porn Moniroth and Korean Minister of Government Policy Coordination HE KOO Yun Cheol, on March 29, 2022.

The US$1.2 billion concessional credit package will be used in the prioritized sectors which the two sides will discuss and decide on the detail in the upcoming 4th Korea-Cambodia Integrated ODA policy dialogue.

From 1996 to the present, Korea has provided about US$431 million in grant aid to Cambodia.

In the framework of concessional loans from 2000 to the present, South Korea also has provided some US$1.2 billion to Cambodia to fund 26 projects/development programs, which are all priority projects.

The total amount of concessional loans has made South Korea the third most important bilateral development partner in supporting Cambodia after China and Japan.

 

• Investment and Funding
• Road and Infrastructure