On May 16, Deputy Prime Minister Choi Sang-mok and Cambodian Deputy Prime Minister and Mister of Foreign Affairs and International Cooperation SOK Chenda Sophea signed the framework arrangement (F/A) of the Economic Development Cooperation Fund (EDCF) between the two governments during the Korea-Cambodia Summit held in Seoul, with the leaders of the two countries’ presence.

The EDCF provides concessional loans to support economic and industrial development in developing countries on long-term and low-interest terms.

With today’s signing of the F/A, the size of concessional loans to the Cambodian government under the EDCF has increased to $3 billion from 2022 to 2030.

* (Current) 2022-2026: $1.5 billion → 2022-2030: $3 billion

Both sides valued the acceleration of bilateral cooperation in logistics infrastructure, climate change adaptation, and ICT following this summit, and they expect a significant enhancement in the development cooperation partnership between the two countries.

Based on this F/A, the Ministry of Economy and Finance plans to actively support developing high-value-added large-scale projects in Cambodia, thereby expanding the participation of Korean companies in infrastructure projects.

Please refer to the attached files.