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Cambodia Asks Korea to Study Transportation Projects Related to Cambodia-Korea Friendship Bridge

PHNOM PENH: The Minister of Economy and Finance, DPM Aun Pornmoniroth, met with the Director General of the Ministry of Economy and Finance of the Republic of Korea, Kim Kyung Hee, on Thursday, 9 March 2023, where he requested Korea to study the transportation projects connected to the Cambodia-Korea Friendship Bridge in the eastern part of Phnom Penh, in order to mark a historic landmark in the friendly relations between the two countries.

During the meeting, the two sides pledged to continue strengthening and expanding cooperation through the provision of official development financing within the framework of concessional loans, to contribute to the promotion of socio-economic development in Cambodia.

DPM Aun Pornmoniroth thanked the Republic of Korea for its commitment to providing concessional loans to Cambodia under the 2022-2026 Framework Agreement, amounting to US $1.5 billion, signed on 9 December 2022.

The Cambodia-Korea Friendship Bridge, showcasing the precious bond between the two countries, is being constructed under a concessional loan of US $245,909 million.

DPM Aun Pornmoniroth stated that Cambodia is the second of 10 countries to partner with EDCF in Korea (from 2001 to the end of 2022). The Korean side has promised to provide a total of about US $1.8 billion in concessional loans.

"As a result of this commitment, 32 concessional loan agreements between the Ministry of Economy and Finance of Cambodia and EDCF have been signed, totaling approximately US $ 1.6 billion for financing 28 development projects," said the DPM. " The program is in line with the development strategy of the Kingdom of Cambodia in key priority areas, including transportation (roads and bridges), education, health, energy, irrigation, clean water and wastewater treatment systems."

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