South Korea to provide $60 million in loans to Cambodia for roads, sewers
On Thursday June 4, 2009
SEOUL, South Korea (AP) -- South Korea said Thursday it will provide $60 million in loans to Cambodia to build roads and sewers as the two countries agreed to broaden economic cooperation.
The loans came as Cambodian Prime Minister Hun Sen visited Seoul for talks Thursday with President Lee Myung-bak. Hun Sen earlier this week attended a special summit between South Korea and the 10 members of the Association of Southeast Asian Nations on the southern resort island of Jeju.
South Korea's Economic Development Cooperation Fund will provide the loan money, Lee's office said in a statement.
About one in three Cambodians live below the national poverty line of just 45 cents a day.
Lee told Hun Sen that South Korea would help Cambodia in areas including agriculture, medicine and education, the statement said. Hun Sen asked Lee for South Korean assistance in setting up a stock exchange to develop Cambodia's financial markets, it said.
South Korea and Cambodia re-established diplomatic relations in 1997. Ties were broken off in 1975 after the Khmer Rouge's takeover of Cambodia.
On Thursday June 4, 2009
SEOUL, South Korea (AP) -- South Korea said Thursday it will provide $60 million in loans to Cambodia to build roads and sewers as the two countries agreed to broaden economic cooperation.
The loans came as Cambodian Prime Minister Hun Sen visited Seoul for talks Thursday with President Lee Myung-bak. Hun Sen earlier this week attended a special summit between South Korea and the 10 members of the Association of Southeast Asian Nations on the southern resort island of Jeju.
South Korea's Economic Development Cooperation Fund will provide the loan money, Lee's office said in a statement.
About one in three Cambodians live below the national poverty line of just 45 cents a day.
Lee told Hun Sen that South Korea would help Cambodia in areas including agriculture, medicine and education, the statement said. Hun Sen asked Lee for South Korean assistance in setting up a stock exchange to develop Cambodia's financial markets, it said.
South Korea and Cambodia re-established diplomatic relations in 1997. Ties were broken off in 1975 after the Khmer Rouge's takeover of Cambodia.
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