Phnom Penh (FN), Dec. 9 – Cambodian prime minister Hun Sen presided over the signing ceremony of USD 1.5 billion loans extended by South Korea on Thursday (Dec 9) at Peace Palace, during which:

1. Cambodian foreign minister Prak Sokhonn and South Korean ambassador to Cambodia Park Heung-kyeong signed the Framework Arrangement between the Government of the Kingdom of Cambodia and the Government of the Republic of Korea concerning Loans from the Economic Development Cooperation Fund (EDCF) up to USD 1,500,000,000 for the years 2022 through 2026.

2. Cambodian economy and finance minister Aun Pornmonyroth and Minnie Chey, country director of Korea Economic Development Cooperation Fund (EDCF) for Cambodia signed Loan Agreements for the following two projects:

- Grid Reinforcement Project in Sihanoukville up to maximum amount of USD 70,000,000 and

- Cambodia-Korea Friendship Bridge Project up to maximum amount of USD 245,909,000.

The above loans extended by the Government of the Republic of Korea will crucially contribute to the Royal Government of Cambodia’s endeavours to stimulate economic development of the Kingdom, and further strengthen the existing good relations between the two nations.
=FRESH NEWS