Illustrative image (Source: https://en.propertyarea.asia/) Phnom Penh (VNA) - Japan International CooperationAgency (JICA) on November 10 signed a loan agreement with the Cambodian government toprovide a Japanese Official Development Assistance (ODA) loan of about 240million USD for the COVID-19 Crisis Response Emergency Support Loan, JICA saidin a statement on November 18.
“The objective of the programme loan is to subsidise the country’s recoveryfrom the social and economic downturn caused by COVID-19 through budget supportfor the implementation of the COVID-19 Master Plan and related policies,” itsaid.
The statement said this loan will contribute to the achievement of SustainableDevelopment Goal 1 to end poverty in all its forms, Goal 3 to ensure healthylives and promote well-being for all of all ages and Goal 8 to promotesustained, inclusive and sustainable economic growth, full and productiveemployment and decent work for all.
It said the project “COVID-19 Crisis Response Emergency Support Loan” aims toprovide financial support to the government to implement countermeasuresagainst COVID-19, such as maintaining and activating economic and socialactivities, protecting socially vulnerable people and improving the healthsystem in the Kingdom.
“These measures in turn contribute to stabilising the economy and society ofCambodia and encouraging efforts for sustainable development,” said thestatement.
It said this project matches the development subjects and policies of thegovernment and the cooperation policies of the Japanese government and JICA,said the statement.
The statement said Cambodia has a close economic relationship with Japan, whichaccounted for 8.3 percent of Cambodia’s exports and 3.2 percent of imports in2018.
“There is concern that the spread COVID-19 may seriously affect 388 Japanesecompanies operating in Cambodia,” it said.
A Ministry of Economy and Finance spokesman Meas Soksensan told KhmerTimes on November 19 that to combat COVID-19, the government isstill welcoming all sources of resources and will use the money withtransparency to rightly target economic recovery./.
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