WB pledges 110-million-USD credit for Cambodia’s highway upgrading
The WB has pledged to provide Cambodia with a 110-million-USD credit to improve the condition, safety and climate resilience of National Road 4, one of the key national highways in the country.
Cambodia's National Road 4 (Source: camsocial.news)Hanoi (VNA) - The World Bank (WB) has pledged to provide Cambodia with a 110-million-USD credit to improve the condition, safety and climate resilience of National Road 4, one of the key national highways in the country.
The funding will come from the International Development Association, the WB’s fund for the poorest countries, the bank’s statement said, adding that it is a credit without interest, with a final maturity of 38 years, including a grace period of six years.
Sovicheano Pheng, Secretary of State of the Ministry of Public Works and Transport, said that Cambodia's economic development relies on National Road 4, as it is the only road connecting the economic centre of the country to the deep seaport of Preah Sihanouk.
Improvement of the key corridor will reduce travel time and logistic costs, which would help Cambodia's economy to be more competitive in the region, he added.
Connecting the capital city of Phnom Penh with Cambodia's only deep-sea port in southwestern Preah Sihanouk province, National Road 4 endures heavy traffic through several economic zones and rich agricultural areas including some large-scale farms, the statement said.
With the credit, the more-than-200-km road will be upgraded with an overlay of asphalt concrete, shoulders will be replaced and drains and bridges will be built along flood prone areas.
In addition to introducing innovative road designs that include climate proofing, the financing will upgrade existing weighing stations and reduce the risk of overloading.
Road safety will be prioritised, through the installation of speed-limit zoning, safety corridors and feeder road improvements that include guide-signs, solar powered lights and speed cameras.-VNA
You should also see
Semiconductor workforce development a breakthrough: PM
Human resources development in semiconductors should be considered a breakthrough in personnel training, Prime Minister Pham Minh Chinh said at a conference in Hanoi on April 24.
See more
ASEAN
Canada, ASEAN consolidate climate change response, economic cooperation
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN
ASEAN youth empowered to unleash potential: ASEAN chief
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
World
Thailand urged to increase proportion of renewable power generation
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
World
Indonesia lifts tsunami alert given after Ruang volcano’s eruption
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
World
Thailand expects to export 1 million tonnes of durian this year
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
