Cambodia Receives Financing for Improvement Projects
BY BUTH REAKSMEY KONGKEA The Ministry of Economy and Finance and the Japan International Cooperation Agency (JICA) signed an agreement to provide grant aid and concession loans for development and improvement projects in Cambodian urban communities. The agreement was signed by the Cambodian Deputy Prime Minister, Keat Chhon, Minister of Economy and Finance, and Kazuhiro Yoneda, Chief Representative of the Japan International Cooperation Agency (JICA) Cambodia on March 25 in Phnom Penh. Chhon said at the signing ceremony that the funding will support equipment improvements for de-mining activities and the Niroth Water Supply Project. The concession loan for Niroth Water Supply Project equals 3,513 million Japanese yen, or about US$35 million, and carries an interest rate of 0.01 percent per year and with a repayment period of 40 years, including a 10-year grace period, according to Chhon. He said the loan will be used for construction of a water treatment plant that will increase its ca...