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Korean Government Plans To Provide More Than $ 23 Million in Grants to Cambodia

PHNOM PENH: In 2023, the South Korean government will continue to provide approximately 23.22 million US dollars in grants to support various projects within the KOICA framework. These projects encompass the fields of health, education, culture, rural development, agriculture, demining, and the environment.

The grant was officially announced during a working meeting between President of the National Assembly of Cambodia, Say Chhum, and President of the National Assembly of the Republic of Korea, Kim Jin-pyo, on September 08, 2023.

President Say Chhum of the National Assembly of Cambodia expressed gratitude for the generous support from the Korean Government. He emphasized that this assistance would significantly contribute to Cambodia's development, particularly in the crucial area of demining, aligning with Cambodia's goal of becoming mine-free by 2025.

National Assembly President Say Chhum also extended his appreciation to the Korean government and people for their continuous official development assistance, grants, and concessional financing since 1997. Cambodia is recognized as a priority country for official development assistance under the New Southern Policy Plus. By 2022, Cambodia is set to become the largest recipient of aid, totaling US $150 million from Korea's development partners.

The Acting Head of State expressed gratitude for Korea's support in fighting Covid-19, including financial assistance and medical equipment. He also acknowledged Korea's efforts in assisting Cambodian workers and simplifying work procedures during the pandemic. Furthermore, he appreciated Korea's provision of vaccines to Cambodian workers in Korea and welcomed the intention to increase the quota of Cambodian workers by 40% by 2023.

The Speaker of the National Assembly of the Republic of Korea expressed the government's and National Assembly's commitment to strengthening relations and cooperation with Cambodia. He emphasized Cambodia's significance as an important partner within the ASEAN-Korea framework and a key partner in official development assistance (ODA).

Furthermore, the President of the National Assembly of the Republic of Korea highlighted the completion of the evaluation of the Cambodia-Korea Friendship Bridge project and the upcoming commencement of its construction. He expressed hope that this bridge would not only contribute to Cambodia's development but also symbolize the enduring friendship between Cambodia and Korea.

Both sides reaffirmed their commitment to expanding cooperation to attract Korean companies to invest in Cambodia across various sectors. This strong partnership between the two countries is expected to promote peace, stability, and development in ASEAN and the Mekong region.

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