Exchange of Notes for Japan’s ODA Grant Aid and Yen Loan

87

Phnom Penh: Reference No. 36 PR 20/EoJ of the press release issued on November, 6th 2020 and in response to a request from the Royal Government of Cambodia, and with a view to strengthening friendly and cooperative relations between Japan and the Kingdom of Cambodia, the Government of Japan has decided to extend its ODA Grant Aid to the Royal Government of Cambodia up to the amount of ¥300,000,000, which is approximately USD2.7 million, and its Yen Loan up to the amount of ¥25,000,000,000, which is approximately USD227 million.

1. Grant Aid for the Economic and Social Development Programme

- Advertisement -

The Grant Aid for the “Economic and Social Development Programme” provides 300 million yen (equivalent to approximately USD2.7 million) to the National Police and the General Department of Immigration at the Ministry of Interior for the procurement of equipment. This cooperation aims to strengthen the capacity of those institutions by providing equipment. The equipment will include vehicles for security use, such as the guarding of very important persons, and X-ray inspection machines for use at land borders. It is expected that this equipment will help ensure that large-scale events, such as upcoming international conferences, will be held safely and run smoothly.

2. Yen Loan for COVID-19 Crisis Response Emergency Support

The “COVID-19 Crisis Response Emergency Support Loan” provides financial support of 25 billion yen (equivalent to approximately USD227 million) to Cambodia, which is being affected by the worldwide spread of the novel coronavirus. Co-financed with Asia Development Bank, the loan is intended to help curb the spread of the novel coronavirus, maintain and activate economic and social activities that will help to protect the economy, and preserve social protection. This highly concessional loan is in addition to the grant of more than 5 billion yen (equivalent to USD45 million) in response to COVID-19, which provides the rehabilitation of Siem Reap Refferal Hospitals, medical equipment across the country, and technical assistance. Through the effective utilisation of this yen loan, it is expected that Cambodia’s economy and society will recover quickly due to the strengthening of the medical system and social support for the poor and vulnerable, and the provision of financial support to entrepreneurs, including small and medium-sized enterprises.

As Cambodia continues to develop its economy it is important that the quality of life of each and every citizen of the country improves alongside national economic development. Japan would like to continue to support the Royal Government’s efforts by utilising a variety of economic and social development schemes.

Notes to this effect were exchanged between H.E. Mr. PRAK Sokhonn, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, and H.E. Mr. MIKAMI Masahiro, Ambassador of Japan to the Kingdom of Cambodia, on 6 November 2020.

Photo by: Supplied 

 

 

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here