South Korea offers loan to Cambodia
South Korea has agreed to provide more than $400 million in loans to Cambodia for infrastructure and health development. Foreign Affairs Minister Prak Sokhonn and South Korean ambassador Kim Weon-jin signed two agreements at a ceremony on January 31 outlining loans that will be dispersed to the kingdom until 2018. The first loan – amounting to $350 million – will cover the cost of creating a new irrigation system in Banteay Meanchey province, a sewerage system in Kandal province’s Takhmao City, infrastructure support in the industrial zone of Preah Sihanouk province, the improvement of National Road 21 and an improvement in the quality of water resources in rural areas.
