Chhay Rithisen (right), Minister of Rural Development, presents a memento to Minnie Chey, Country Director of EDCF Cambodia, at the Ministry of Rural Development, on Tuesday. Ministry of Rural Development
Synopsis: Concessional loans from Korea play a critical role in supporting Cambodia’s rural development, driving economic growth, and laying the foundation for a long-term vision of prosperity.
The long-standing economic cooperation between Cambodia and the Republic of Korea continues to grow stronger, with concessional loans provided by the Korea Economic Development Cooperation Fund (EDCF) reaching approximately $1.9 billion over the past 15 years, making Cambodia the third-largest recipient of EDCF funding globally.
The significant milestone was highlighted during a farewell meeting between Chhay Rithisen, Minister of Rural Development, and Minnie Chey, Country Director of EDCF Cambodia, held at the Ministry of Rural Development on Tuesday.
Speaking at the meeting, Minister Rithisen underlined the Royal Government’s commitment to boosting the country’s development through the Pentagonal Strategy—Phase 1, under the leadership of Prime Minister Hun Manet.
The strategy is designed to drive Cambodia towards its goal of becoming a high-income country by 2050, with a focus on five key priorities: people, roads, water, electricity, and digital technology, he added.
“The Ministry of Rural Development is working to build a prosperous, modern, and resilient rural Cambodia, with a strong emphasis on raising household incomes and improving living standards,” Minister Rithisen said.
The Minister highlighted the vital role Korea’s concessional financing has played in supporting Cambodia’s rural infrastructure projects. To date, under the EDCF, the Ministry has received financing for seven major projects worth over $400 million, which have contributed to the construction of more than 1,700 kilometres of paved roads, 42 concrete bridges, and other essential infrastructure—providing a lifeline for rural economies and boosting connectivity.
The Cambodia-Korea development partnership was further strengthened following Prime Minister Hun Manet’s official visit to Seoul in May 2024, during which the Korean government committed to increasing concessional loans to Cambodia by up to $3 billion between 2022 and 2030.
Minister Rithisen also urged Korea Eximbank to continue its support for the Ministry’s Rural Model Village initiative, a key program aimed at accelerating rural development through integrated planning, innovation, and improved infrastructure.
For her part, Chey expressed appreciation for the close cooperation between the Ministry and Korea Eximbank, stressing the importance of rural roads as economic lifelines. “Rural infrastructure is not just about connectivity—it is about creating opportunities, generating income, and improving people’s quality of life,” she said.
She also reaffirmed Korea’s commitment to deepening its development cooperation with Cambodia, especially in infrastructure and rural development sectors.
Minister Rithisen extended his sincere thanks to Chey for her contributions over the past three years and presented souvenirs as a token of appreciation for her efforts in strengthening the two countries’ development partnership.
The concessional loans from Korea, now amounting to $1.9 billion, continue to play a critical role in supporting Cambodia’s rural development, driving economic growth, and laying the foundation for the Kingdom’s long-term vision of prosperity.
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