Cambodia Secures US$162.7 Mln Loan From Japan For Irrigation, Drainage Project

PHNOM PENH, June 22 (Bernama-Xinhua) -- Cambodia signed a US$162.7-million loan agreement with Japan on Monday to fund the third phase of the Southwest Phnom Penh Irrigation and Drainage Rehabilitation and Improvement project, according to the Cambodian foreign ministry.

"The project aims to enhance agricultural productivity in rural areas and mitigate flood damage by rehabilitating and improving the existing irrigation and drainage facilities in the Southwestern corridor of Phnom Penh," the ministry said in a statement, reported Xinhua.

It added that this continued financial assistance reflected Japan's steadfast commitment to promoting Cambodia's socio-economic development and the Cambodia-Japan Comprehensive Strategic Partnership. 

--BERNAMA-XINHUA