- January 31, 2017
Remarks by H.E. Mr. PRAK Sokhonn, Senior Minister, Minister of Foreign Affairs and International Cooperation at the Signing Ceremony of the “Framework Arrangement concerning Loans From the Economic Development Cooperation Fund” and “Arrangement concerning a Loan From the Economic Development Cooperation Fund for Upgrading of National Road No. 48 Project” 31 January 2017.
His Excellency Kim Weon-jin, Ambassador of the Republic of Korea to the Kingdom of Cambodia,
Excellencies, Distinguished Guests, Ladies and Gentlemen,
Today, His Excellency Ambassador Kim Weon-jin representing the Government of the Republic of Korea, and I, on behalf of the Royal Government of Cambodia, have just signed two major documents: 1) “Framework Arrangement concerning Loans From the Economic Development Cooperation Fund (EDCF) for the years 2016 through 2018” with the total amount of 350 Million USD, and 2) the “Arrangement concerning a Loan From the Economic Development Cooperation Fund for Upgrading of National Road No. 48 Project” with the amount of 67,434,000 USD.
This Framework Arrangement fund will be utilized to finance a number of priority projects relating to the fields of infrastructure, irrigation, health, rural road and sewerage system. It is important to note that this framework arrangement is well aligned with the priorities areas as laid out by the Royal Government of Cambodia within the Rectangular Strategy Phase III.
As for the other arrangement, the project will be to renovate the national road no. 48 that runs from Sre Ambil to Koh Kong province. This renovation will further facilitate movement of people and goods in this southern part of Cambodia.
I would also like to emphasize that the amount of this Framework Arrangement concerning EDCF loan for year 2016 through 2018 has increased more than twice from the previous Framework Arrangement (2013-2016), recorded at US$ 200 million. This increase testifies the continued strong commitment and support of the Government of the Republic of Korea to the Royal Government of Cambodia in its efforts for socio-economic development and improvement of the people’s well-being.
May I recall that from 2001 to 2016, the Republic of Korea has provided EDCF loans to Cambodia with the amount of approximately 535 million USD for the implementation of 17 development projects.
Taking this opportunity, on behalf of the Royal Government of Cambodia, I would like to express my sincere thanks to the Government and People of the Republic of Korea for their support to the development of Cambodia. I would also like to thank Excellency Ambassador Kim Weon-jin for your efforts and contribution to the advancement of our bilateral relations and cooperation.
This year, the two countries will mark and celebrate the 20th anniversary of the diplomatic relations, and I firmly believe that, with our joint strong efforts, we can further strengthen the traditional relations and productive cooperation that exist between our two countries for the mutual interests of our two peoples.