Phnom Penh, 11 April 2023 (TDI): The Government of Japan will provide a loan of Japanese Yen, 2,482,000,000 (about US$18,240,000) to fund irrigation and drainage projects in Phnom Penh.

On April 10, the Ministry of Foreign Affairs and International Cooperation (MFAIC) signed the Exchange of Notes and associated paperwork for the loan extension for the Southwest Phnom Penh Irrigation and Drainage Rehabilitation and Improvement Project (II).

Signatories were Cambodian Deputy Prime Minister, Minister of MFAIC Prak Sokhonn, and Japanese Ambassador to Cambodia H.E. Ueno Atsushi.

Speaking on the occasion, Prak Sokhonn extended his thanks to the Government and people of Japan for their aid in the development of Cambodia’s many sectors on behalf of the Royal Government and the people of Cambodia.

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Both nations have signed a US$54 million loan deal to secure irrigation systems in three provinces.

He also hailed the forthcoming deployment of 40 Japanese referees to Cambodia for the SEA Games 2023, which would considerably contribute to the success of this historic sporting event.

Cambodia and Japan are celebrating the 70th anniversary of their diplomatic ties this year. Since. In 1992, Japan has been Cambodia’s leading contributor, delivering over US$1.2 billion in total official development aid.

Cambodia and Japan have a long-standing relationship that dates back to the 1950s when Japan provided aid to Cambodia.

Since then, Japan has been one of Cambodia’s largest aid donors and investors.

In recent years, Japan has played an important role in Cambodia’s economic development, focusing on infrastructure development, trade, and investment.

In addition, Japan has assisted Cambodia in areas such as education, health care, and disaster relief.

The two countries have also strengthened their political ties, with regular high-level visits and meetings between government officials.

Japan is currently Cambodia’s second-largest donor and investor, and the two nations are working hard to expand their relationship.