Japanese Government to Loan $47M for Agro-Development

The Minister of Water Re­source and Meteorology an­nounced yesterday that the Ja­panese government’s international aid agency will provide his ministry with $47 million in loans for an agriculture development project near the Ton­le Sap lake.

During a donation ceremony for 114 Japanese-funded agricultural machines held at the ministry, Minister Lim Kean Hor told the 400 water resource officials in attendance that the Japanese government will sign the loan agreement on Monday.

“The Ministry of Water Re­source and Meteorology will re­ceive [the $47 million] loan from Japan for the maintenance and im­provement project in the western provinces,” Mr Kean Hor an­nounced.

Chan Youttha, chief of Cabinet, said the loan is part of a $54 million plan for six irrigation im­prove­ment projects in three western pro­vinces. The project will build and upgrade the canals, dikes and water locks in Kom­pong Chhnang, Pursat and Bat­­tambang provinces and is sche­duled to start later this year. It is ex­pected to be completed in 2017.

“This is the soft loan at $0.01 interest rate,” he added. “It is go­ing to be paid back in 40 years.”

The Ministry on Thursday also re­­ceived 114 pieces of heavy ma­chinery worth $11 million through grant aid from Japan for a program aimed at improving the ability of the government to cope with natural disasters caused by climate change. The equipment included 40 dump trucks, 20 excavators, 15 pick-up trucks, nine bulldozers, nine vibrating rollers, five motor graders, five water tank trucks, five truck-headed trailers, five wheel loaders and one mobile workshop truck.

Japanese Ambassador to Cam­bodia Kuroki Masafumi said in his remarks that the donated equipment will help to improve the livelihoods of Cambodian peo­ple and help safeguard their farmland.

“Thirty-five percent of them are living in poverty. I strongly hope that this project will help these people’s lives, their homes and farmlands,” he said.

 

 

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