Logo of Phnom Penh Post newspaper Phnom Penh Post - South Korea to lend $60m for roads, sewerage

South Korea to lend $60m for roads, sewerage

South Korea to lend $60m for roads, sewerage

SEOUL - South Korea agreed Thursday to provide Cambodia with US$60 million in loans to build roads and sewerage systems, the presidential Blue House said.

The agreement was reached at a summit between Cambodian Prime Minister Hun Sen and President Lee Myung-bak.

On top of the loans from its Economic Development Cooperation Fund, South Korea also promised to help develop agriculture, medical services, education and energy in the Kingdom.

The summit was followed by a signing ceremony for memoranda of understanding aimed at boosting economic and technological cooperation.

"The two leaders noted with satisfaction that bilateral ties have significantly improved since the restoration of diplomatic ties in 1997," the Blue House said in a statement following the summit.

Lee asked for support for a joint project to build an industrial park for South Korean firms near Sihanoukville. Hun Sen said his government would consider the request.

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