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PHNOM PENH – Japan has promised to double concessional loans to meet Cambodia's development needs and provide more co-financing to support socio-economic development.
Hataeda Mikio, Japan International Cooperation Agency director-general for Southeast Asia and the Pacific, made the pledge at a meeting with Aun Porn Moniroth, Minister of Economy and Finance on July 20.
Japan's overseas development assistance to Cambodia in the past ten years has totalled $720 million. Of this, $170 million has come through international organizations and $550 million directly.
Japan is the top donor country to Cambodia, accounting for 25 percent of all assistance to Cambodia.
The minister said Japanese aid had been put to use in almost all areas in Cambodia, especially in infrastructure development. Projects included international seaports, roads, bridges, electricity, irrigation, hospitals, schools and water treatment plants.
These activities clearly reflected Japan as an important strategic development partner for Cambodia.
The minister suggested that the Japan International Cooperation Agency strengthens its candidate projects in the feasibility study phase by focusing on efficiency and sustainability. In particular, to integrate the socio-economic development direction in line with policies and strategies of the national strategic development plan.