Seoul (FN), September 6 - The Republic of Korea has provided over US$ 11.5 million in concessional loans to finish National Road No. 21 Improvement Project (Takhmao-Chrey Thom).
Loan Agreement Signing Ceremony was held on September 06, 2017 in Seoul, Republic of Korea, represented by by Vongsy Visoth, Cambodian Secretary of State of Ministry of Economy and Finance and Chang Young-hoon, executive director of the Export-Import Bank of Korea.
The ceremony was on the occasion of the anniversary 30th of the Korea's Economic Development Cooperation Fund (EDCF).
The upgrading of National Highway No. 21 Phase 2 (Takhmao-Chrey Thom) is from PK 55 + 000 to PK 63 + 440, in total of 8.6 km.
The National Road No. 21 will be upgraded from Takhmao Roundabout to Chrey Thom in Kandal province, with a total length of 63.6 kilometers, including the first phase of the 55 km section of PK 0 + 000 to PK 55 + 000.
On behalf of the Royal Government of Cambodia, Vongsy Visoth expressed his profound appreciation to the Government and people of S. Korea for contributing to Cambodia's socio-economic development.
From 2001 to 2017, the Republic of Korea pledged to finance Cambodia in both grants and concessional loans for development projects in Cambodia.
So far, Cambodia has been financed approximately $979 million; $291 million was grant aid and $687 million in concessional loans.