Thailand and Cambodia have signed a loan agreement to finance the improvement of a border road section from Siem Riep to Anlong Veng and Choam/Sa Ngam of National Highway No. 67 in Cambodia.
Perames Vudthitornetiraks, Chairman of the Neighboring Countries Economic Development Cooperation Agency (NEDA), signed the agreement with Vongsey Vissoth, Minister to the Prime Minister and Permanent Secretary of State, Ministry of Economy and Finance of Cambodia, at the Ministry of Economy and Finance in Phnom Penh on 4 November.
The road improvement project aimed to support cross-border trade as well as bilateral freight transport, investment and tourism.
National Road No. 67 facilitates transportation to Phnom Penh, Siem Reap and Banteay Meanchey through Highway 6. It also supports Cambodia’s road connection with Thailand and Vietnam along the Southern Economic Corridor (SEC) of the economic cooperation of the Greater Mekong Sub-region and NR5. section of Asian Highway 1 (AH1).
In accordance with the Cabinet resolution, NEDA extended a soft loan of 983 million baht to finance the NR 67 development project on the condition that the project utilize material supply and equipment from Thailand at least 50% of the loan amount. Additionally, contractors and construction supervision companies must be Thai nationals. Construction will take about two years. (TNA)