Phnom Penh (FN), June 22 – World Bank issued a press release date on 21 June 2018, entitled “World Bank Supports Improved Connectivity and Emergency Response in Cambodia”.
Read World Bank’s press release is as follows:
WASHINGTON, June 21, 2018 — Cambodia will improve the condition, safety, and climate resilience of a key national highway, with US$110 million in additional financing approved today by the World Bank’s Board of Executive Directors. The additional support to the Road Asset Management Project II (RAMP II) is also expected to provide an immediate and effective response in case of an emergency.
The most direct corridor linking Phnom Penh to Cambodia’s only deep-sea port in Preah Sihanouk province, National Road 4 endures heavy traffic through several economic zones and rich agricultural areas including some large-scale farms. Through this additional financing more than 200 kilometers will be upgraded with an overlay of asphalt concrete, shoulders will be replaced and drains and bridges will be built along flood prone areas.
“Cambodia’s economic development relies on National Road 4, as it is the only road connecting the economic center of the country to the deep seaport of Cambodia,” said H.E. Sovicheano Pheng, Secretary of State of Public Works and Transport and Project Director. “Improvement of this key corridor will reduce travel time and logistic costs, which would help Cambodia’s economy to be more competitive in the region.”
In addition to introducing innovative road designs that include climate proofing, the additional financing will upgrade existing weighing stations and reduce the risk of overloading. Road safety will be prioritized, through the installation of speed-limit zoning, safety corridors and feeder road improvements that include guide-signs, solar powered lights and speed cameras. Performance-based contracts will be used in order to maximize effective use of the funding.
“Infrastructure gaps are a significant barrier to competitiveness and private sector development. Upgrading National Road 4 will address this challenge and broaden economic opportunities for Cambodians,” said Inguna Dobraja, the World Bank’s Country Manager for Cambodia.
The additional financing scales up the existing RAMP II, approved in May 2016, which aims to improve the connectivity along national road corridors in Kampot, Preah Sihanouk, Tbong Khmom, and Kratie provinces. It also enables an immediate response in case of an eligible crisis or emergency.
The new funding, which extends this support by eight-and-half-years, comes from the International Development Association, the Bank’s fund for the poorest countries. It is a credit without interest, with a final maturity of 38 years, including a grace period of six years.
=FRESH NEWS
