S. Korean-funded roads opens to traffic in Cambodia

[geovalin]

SEJONG, June 29 (Yonhap) -- Roads built with low-interest policy loans from South Korea have opened to traffic in Cambodia, the finance ministry said Monday.

The US$30-million aid package was extended to the Southeast Asian country to help finance, repair and maintain 106 kilometers of three existing roads and build one detour route, it said.

The roads near the Vietnamese border in the Southern part of Cambodia, are part of a broader infrastructure project undertaken by Phnom Penh to meet rise in logistics demand and traffic. Many of the country's key infrastructure were damaged during the civil war years.

In 2008, South Korea decided to support the road project from its Economic Development Cooperation Fund (EDCF).

The EDCF is a state-run fund launched in 1987 that aims to help emerging countries with loans that carry low interest rates. Since it was established, Seoul has provided more than 10 trillion won (US$9 billion) in aid.

source: http://english.yonhapnews.co.kr/news/2015/06/29/0200000000AEN20150629005200320.html