S. Korea Provides US$200 Million in Loans to Cambodia from 2009-2012

S-0050The Republic of Korea has promised to provide US$200 million in development loans to Cambodia from 2009-2012 during a state visit to Cambodia by President of the Republic of Korea Lee Myung-bak.

 S-0051An agreement on the development loans were signed here today evening by Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation Hor Namhong and visiting Minister of Foreign Affairs and Trade of the Republic of Korea Yu Myung-hwan in the presence of Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen and visiting President of the Republic of Korea Lee Myung-bak.

The Agreement on Extradition was also signed by both sides on the occasion.

The two nations also set to launch a joint development program next year, through which S. Korea will help set up “master plans” for the development of Cambodia while sharing its development experience with the country, Yonhap News Agency quoted the South Korean presidential office as saying.

Earlier, President of the Republic of Korea Lee Myung-bak received a royal audience at the royal palace by His Majesty King Norodom Sihamoni.

 Then a Korean-Cambodian business luncheon offered by Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen was held in honour of visiting President of the Republic of Korea Lee Myung-bak, followed by the bilateral summit meeting between the two leaders.

It is the S. Korean president’s first visit to Cambodia since he became president in February last year.

He paid a state visit to Cambodia at the invitation of His Majesty Preah Bat Samdech Preah Boromneath Norodom Sihamoni, King of Cambodia.

Earlier, the S. Korean leader took his tour to Vietnam and after his two-day state visit to Cambodia, he will travel to Thailand for a regional forum hosted by the Association of Southeast Asian Nations (ASEAN).

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