S. Korea Provides US$80-million Grant Aid for 12 Development Projects in Cambodia

• 21 October 2020
• Local News
• 2795 Views

The Korea International Cooperation Agency (KOICA) has provided US$80 million in grant aid for 12 major development projects in Cambodia, according to a meeting between the Minister Attached to the Prime Minister HE Chhieng Yanara and KOICA Country Director Rho Hyunjun on 21 October.

Mr Rho Hyunjun said that the US$80 million is for prioritised projects from 2021 to 2022. However, KOICA has thus far partially implemented some of the projects.

KOICA will also provide additional support to Cambodia for combating COVID-19 and rehabilitating the economy through emergency relief and financial assistant.

According to Press OCM, from 2019 to 2020, South Korean aid for infrastructure projects in Cambodia has increased from US$350 to US$700 million. Those projects include but not limited to the funds for the restoration of NR 22, NR 2, and NR 48.

However, when counting all development projects, as of November 2019, South Korea has provided a total of US$889 million for 23 projects, of which only approximately US$442 million was spent. Meanwhile, South Korea has already agreed to provide Cambodia with another US$700-million loan from 2019 to 2023. (Read more)

• Projects Development
• Investment and Funding
• Road and Infrastructure