(Phnom Penh): On Wednesday (Jun. 3), the US International Development Finance Corporation (DFC) Board of Directors formally approved a USD 100 million financing package to support the expansion of Techo International Airport, thereby enhancing Cambodia's aviation infrastructure.

This agreement followed an extensive two-year due diligence process that included thorough evaluations of the project's technical feasibility and operational viability, as well as an Environmental and Social Impact Assessment (ESIA). As per standard protocol, additional steps, including congressional notification, must be completed before the financing can be formally executed and take effect.

This financing is a significant endorsement of Techo International Airport. It reflects the growing recognition of the Overseas Cambodian Investment Corporation (OCIC), a prominent local conglomerate and infrastructure developer in Cambodia.

This milestone is the result of years of engagement between Canadia Group, OCIC, and various US entities, including the US Embassy, the American Chamber of Commerce in Cambodia, and leading American companies such as General Electric, OTIS, Caterpillar, Ford, and Apple. Continuous dialogue and business delegations have fostered partnerships that contribute to the development of Cambodia's infrastructure and connectivity initiatives.

Pung Kheav Se, Chairman of OCIC, said, "We are pleased to welcome DFC as a partner in the development of Techo International Airport. This collaboration demonstrates our shared commitment with the United States to enhance infrastructure that fosters economic growth and improves regional and global connectivity.”

In its announcement, the DFC stated, “Enhancing infrastructure and strategic ties in Cambodia, strategic capital deployment to support the refinancing of the new Techo International Airport in Phnom Penh. The investment will support the expansion of Cambodia’s aviation infrastructure and promote broader economic opportunities for trade, economic growth, and development. The deal underscores DFC’s role as a partner capable of unleashing capital, expertise, and innovation to strengthen one of Cambodia’s most critical infrastructure assets.”

The collaboration between Cambodian and American institutions supporting Techo International Airport will facilitate trade, tourism, and investment, thereby contributing to Cambodia's long-term economic development.
=FRESH NEWS