In a significant move to support Cambodia's socio-economic development, Japan has agreed to extend a loan of approximately $55 million to the Kingdom through the Phnom Penh City Transmission and Distribution System Expansion Project (Phase 2) (III). The announcement was made on September 4, 2024, in a statement released by the Ministry of Foreign Affairs and International Cooperation.
The loan, which totals JPY 7,988 million, will be used to implement Phase II of the project, aimed at enhancing the city's infrastructure. This move is seen as a demonstration of Japan's steadfast commitment to supporting Cambodia's government efforts to foster sustainable development.
This extension of the loan underscores the Comprehensive Strategic Partnership between Japan and Cambodia, which has been strengthened over the years through various bilateral cooperation initiatives. The partnership aims to promote mutual understanding, economic growth, and people-to-people exchanges between the two countries.
The agreement marks a significant milestone in Cambodia-Japan relations, highlighting the importance of regional cooperation and infrastructure development. This loan will not only contribute to the Phnom Penh city's modernization but also demonstrate Japan's continued support for Cambodia's development goals.
This development is expected to have a positive impact on Cambodia's socio-economic landscape, enhancing connectivity and facilitating economic growth. The extension of this loan underscores Japan's commitment to supporting Cambodia's development endeavors, further solidifying the Comprehensive Strategic Partnership between the two nations.
The Ministry of Foreign Affairs and International Cooperation invites readers to learn more about its departmental activities by visiting our website at <a href="mfaie@mfaie.gov.kh">www.mfaie.gov.kh</a> or by contacting us directly at N° 3, Samdech HUN Sen Street, Tel: (885)23216 122, Sangkat Tonle Bassac, Khan Chamkarmon, Phnom Penh, Kingdom of Cambodia.