Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan set to sign $180M Covid-19 crisis loan agreement in December

Japan set to sign $180M Covid-19 crisis loan agreement in December

Content image - Phnom Penh Post
The Japan International Cooperation Agency’s (Jica) Haruko Kamei (second left), Japanese ambassador Masahiro Mikami (third left) and finance minister Aun Pornmoniroth (fourth left) at the meeting on Monday. FINANCE MINISTRY

Japan set to sign $180M Covid-19 crisis loan agreement in December

Japan is expected to sign a concessional loan agreement worth 20 billion yen ($180 million) with the Kingdom this month for Covid-19 Crisis Response Emergency Support Loan Phase 2, the Cambodian Ministry of Economy and Finance said on November 30.

The decision was revealed at a meeting on November 29 between Minister of Economy and Finance Aun Pornmoniroth, Japanese ambassador to Cambodia Masahiro Mikami, and Japan International Cooperation Agency (Jica) Cambodia Office chief representative Haruko Kamei.

The finance minister said Japan has “always supported” the Kingdom materially, technically and financially in almost every area, promoting social welfare and development. He highlighted Tokyo’s recent financial contributions to the health and clean water sectors as an example.

Pornmoniroth also welcomed initiatives to bolster investment in Cambodia, and deeply thanked the Japanese government and people for its “consistent attention” and provision of “well-directed” development cooperation in virtually all fields.

He stressed that this reflects the role of Japan as an “important strategic development partner” that contributes to the Cambodian government’s efforts to optimise the Kingdom’s development.

Ministry spokesman Meas Soksensan told The Post on December 2 that the concessional loan would be allocated to state budget reserves.

“We do appreciate any and all help from development partners, and we’ll ensure that the funds are used efficiently, and aimed at fighting the spread of Covid-19, as well as to spur the economy,” he said.

Hong Vanak, director of International Economics at the Royal Academy of Cambodia, underlined the importance of the targeted loan, given the Kingdom’s nearly two year-long struggles with the Covid-19 crisis.

He said Japan has been a major donor to Cambodia for nearly 30 years, and has awarded a large number of grants to help build infrastructure, and underpin education and health.

Vanak contended that using Japanese financing in a transparent and dignified manner would encourage Tokyo to continue to provide assistance, which he said would prop up the Kingdom’s socio-economic growth, particularly after Covid ends.


  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • Hun Sen gets 4th Covid shot, urges compatriots to follow

    Prime Minister Hun Sen and his wife Bun Rany on January 14 received their fourth dose of Covid-19 vaccine and called on compatriots to follow suit as the Omicron coronavirus variant continues to spread in the community. This marks the launch of Cambodia's fourth-dose vaccination campaign,

  • Fourth dose Covid booster drive jabs 43K in two days

    In the first two days of the fourth-dose Covid-19 vaccination campaign, more than 43,000 people volunteered to get the jabs, while over 4.6 million people have received a third shot. Health ministry spokeswoman Or Vandine said that fourth-dose vaccinations, which began on January 14 exclusively with the Pfizer

  • Singapore backs Cambodia's efforts on Myanmar

    Singaporean Prime Minister Lee Hsien Loong supports Cambodia in its efforts to seek a solution to the ongoing Myanmar crisis as the chair of ASEAN. Lee expressed his support during a meeting with Prime Minister Hun Sen via videoconference on January 14, with the talks focused