Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan provides $52M in grants

Japan provides $52M in grants

Content image - Phnom Penh Post
Ambassador of Japan to Cambodia Hidehisa Horinouchi (left) and Minister of Foreign Affairs and International Cooperation Prak Sokhonn agree grants and loans worth some $43 million in February. Heng Chivoan

Japan provides $52M in grants

The Japanese government has provided more than $52 million in grants for Cambodia’s socio-economic development projects so far this year, the Ministry of Foreign Affairs and International Cooperation said.

Speaking at the signing ceremony of a 500-million-yen ($4.62 million) grant on Wednesday with Japanese Ambassador to Cambodia Hidehisa Horinouchi, Minister of Foreign Affairs and International Cooperation Prak Sokhonn said the Kingdom had received $52.76 million in funds from the Japanese government for three projects between January and mid-July.

“Japan is a major donor to Cambodia. Their funds have responded to the government’s prioritised development needs since 1990."

“Both grants and concessional loans have contributed significantly to the socio-economic development policy to help alleviate poverty in Cambodia,” he said.

Two of the projects are the West Tonle Sap Irrigation and Drainage Rehabilitation and Improvement Project II, worth $43.36 million, financing for human resource development and container warehouse construction at Sihanoukville Autonomous Port worth $4.8 million.

The third project, which was signed on Wednesday, was a $4.6 million grant for 15 pieces of construction machinery.

Horinouchi said: “Japanese road reparation tools are specially designed to reduce repair times and make long-lasting roads. I hope these tools will be useful for repairing Cambodia’s roads,” he said.

Affiliated Network for Social Accountability president San Chey noted that most of Japan’s aid to Cambodia has been on physical infrastructure development. However, the Kingdom must implement the projects with transparency.

“We’ve seen that Japan’s aid has helped develop physical infrastructures – such as roads, streets and bridges. The important thing is that Japan brings experts to Cambodia, whose construction is of high quality.”

The ministry said the Japanese government provided Cambodia with around $134 million in development aid last year. Of that, grants amounted to nearly $20 million and concessional loans to more than $114 million.

MOST VIEWED

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the

  • SBI LY HOUR Bank Launches Cross Border Money Transfer Service between Cambodia and Vietnam on RippleNet, utilizing DLT

    SBI LY HOUR Bank Plc and Hanoi-based Tien Phong Commercial Joint Stock Bank (TPBank) on Friday launched the first Cambodia-Vietnam money transfer service in real currency via RippleNet, provided by SBI Ripple Asia Co Ltd to provide safe, fast and convenient services. SBI LY HOUR

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Cambodia ready to exit LDC status

    Cambodia is well-prepared to minimise economic risks when it graduates from its Least Developed Countries status, according to a senior official at the Ministry of Commerce on May 7. Four LDCs – Cambodia, Laos, Bangladesh and Nepal – met at a virtual workshop last week to explore potential

  • Nine US franchises eye Cambodia debut

    Nine famous US franchising companies are looking for business opportunities and expansion into Cambodia to build a footstep for a strong foundation in Southeast Asia. The US embassy in Phnom Penh, in partnership with the US Foreign Commercial Service and with support from the American

  • Nearly 2,000 detained for Phnom Penh curfew breach

    Nearly 2,000 people were detained in the capital for violating the curfew imposed by the government and Phnom Penh Municipal Administration. Municipal police spokesman San Sokseyha told The Post on May 16 that people were detained in two phases. In phase one, the government locked down Phnom