The Kingdom is set to sign a loan agreement with Japan on June 20. The more than $180 million will fund improvements in rural road connectivity and a water supply expansion project, according to a press release from the Ministry of Foreign Affairs and International Cooperation.
The ministry confirmed that Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Prak Sokhonn and Japanese ambassador Atsushi Ueno will co-sign the agreement.
It added that $172 million will be earmarked for the implementation of the rural road connectivity improvement project and another $15 million will be used for phase III of the expansion of the Siem Reap water supply expansion project.
“The allocation of this assistance underscores Japan’s unwavering commitment to supporting the Cambodian government’s continuous efforts to foster social-economic development,” it said.
It explained that the funding would contribute to reinforcing the enduring relations and close cooperation between the two countries, which recently elevated their bilateral relationship to the “Comprehensive Strategic Partnership” level, as they commemorate the 70th anniversary of the establishment of diplomatic ties.
Sokhonn and Ueno signed a loan agreement in April which was worth more than $18 million. The April funding was used to implement phase II of the Southwest Phnom Penh Irrigation and Drainage Rehabilitation Project.