JBIC agrees loan with Cambodia for power lines project
18 April 2007 - The Japan Bank for International Cooperation (JBIC) has signed a low-interest loan agreement totalling up to $22m with the Royal Government of Cambodia, to finance the Greater Mekong Power Network Development Project.
The aim of this agreement is to improve the investment environment in Sihanoukville in the Cambodia Growth Corridor by increasing the power supply capacity in the area. This project will extend 230kV double-circuit transmission lines for a total length of about 78km from Kampot to Sihanoukville in the Cambodia Growth Corridor, as well as construct substations and a distribution system.
Cambodia's poor power supply is indicated by one of the lowest electrification rates in the region, due to the lack of a generation capacity and nationwide transmission network, as well as high electric utility rates. This network formulation plans to enable the area to receive an affordable and reliable power supply from Vietnam.
Considering the significance of the development of the Mekong region, Japan is committed to the region on a larger scale, as stated at the East Asia Summit in January 2007. JBIC plans to provide comprehensive financial support to improve the investment climate and infrastructure necessary for the economic growth of Cambodia.
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