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Logo of Phnom Penh Post newspaper Phnom Penh Post - In Brief: SKOREA loans US$120 million

In Brief: SKOREA loans US$120 million

| Publication date 31 December 2008 | 15:01 ICT

In Brief: SKOREA loans US$120 million

South Korea has provided Cambodia with US$120 million in low-interest

loans for four infrastructure projects. Cambodia has 40 years to repay

the loan at an interest rate of 0.01 percent. The money is to help

improve the Siem Reap sewage system, roads in Kampot, bridges

throughout the country and resource development along the Krang Ponley

river. Prior to this loan, Cambodia's debt to South Korea was nearly

US$160 million. The ceremony was attended by Foreign Minister Hor

Namhong, Ambassador Shin Hyun-suk and Prime Minister Hun Sen.

Contact author: Cheang Sokha

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