Thursday, August 13, 2009

Japan provides loans to develop Cambodian Sihanoukville port

PHNOM PENH, Aug. 13 (Xinhua) -- Japan on Thursday provided 72 million U.S. dollars in concession loans to develop Cambodia's Sihanoukville port to expand its capacity.

"The fund is to improve the capacity of Sihanoukville port, the only international deep sea port in Cambodia, by constructing multipurpose terminals including a bulk terminal and oil supply base, and developing infrastructure related to the terminal at the port," Hor Namhong, deputy prime minister and minister of foreign affairs and international cooperation told reporters.

The minister signed the exchange note with Shinohara Katsuhiro, Japanese Ambassador to Cambodia, with the presence of Prime Minister Hun Sen.

It will also help contribute to industrial development and economic growth in Cambodia. And it is the third time that Japan has helped Sihanoukville port since 1999 aimed at improving handling capacity of containerized cargos, Hor said.

Japan also provided about 10 million U.S. dollars non-project grant aid for promotion of economic and social development efforts in Cambodia, Hor said, adding that since 1993, under the type of grant aid, Japan has extended to Cambodia a total amount of 187 million U.S. dollars.

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