Phnom Penh Tower, 12Th Floor, #445, Monivong Blvd, Corner Street 232

Press Release KOICA Cambodia Office Phnom Penh Tower, 12th Floor, #445, Monivong Blvd, Corner Street 232, Boeung Prolet, 7 Makara, Phnom Penh, Cambodia Tel: (855)23-964 150/1/3, Fax: (855)23-964 152 Email: [email protected], Website: www.koicacambodia.org Phnom Penh, March 13, 2015 Handover Ceremony of Project for Enhancing Road Safety Facilities and Traffic Safety of NR No.3 & NR No.48

Picture of National Road No. 3 located in Kampot and Sihanoukville and National Road No. 48 located in Koh Kong

PHNOM PENH: The handover ceremony of the “Project for Enhancing Road Safety Facilities and Traffic Safety of NR No.3 & NR No.48” will be held at Kampot province in the morning of March 19, 2015. The ceremony will be highly co-presided over by H.E. Tram Iv Tek, Minister of the Ministry of Public Works and Transport and H.E. Kim Weon Jin, Ambassador of the Republic of Korea to Cambodia. The Record of Discussions for the said Project was signed on June 17, 2011 between the Korea International Cooperation Agency (KOICA) and the Ministry of Public Works and Transport, to help the Cambodian government’s efforts for reducing crashes on National Road No. 3 and National Road No. 48 by establishing traffic safety measures for the roads and providing support to improve traffic safety facilities. Furthermore, it aims to reduce crashes across the country by applying the best practices of traffic safety improvement projects on other roads in Cambodia. The Korean government provided grant aid equivalent to no more than three billion six hundred eighty million Korean won (KRW 3,680,000,000), equivalent to three million and two hundred thousand United States dollars (USD 3,200,000) for this Project. With the Grant Aid Cooperation between KOICA and MPWT, KOICA provided three projects 1) - “Master Plan for Railway Network Development in Cambodia”, 2) - “Project for Enhancing Road Safety Facilities and Traffic Safety of NR No.3 & NR No.48””, and 3) - “Project for Feasibility Study on Waterway Improvement for Port Logistics Development in Cambodia”. These projects are very meaningful because the development and maintenance of essential public infrastructure is important ingredient for sustained economic growth and poverty reduction. Poor infrastructure is perhaps the most binding constraint to growth. Infrastructure investment can lift economic growth and support social objectives. Therefore, Development Assistance in "infrastructure such as road, waterway and railway" is much needed for the development of Cambodia. Be noted that Cambodia is one of KOICA’s core partner countries in term of development cooperation. KOICA has been providing Cambodia with different type of aids like projects supports, training programs, and volunteer programs. In Cambodia, KOICA has its country partnership strategy (CPS) that helps Royal Government of Cambodia achieve its national development goals, by integrating the strategy with Cambodia’s National Strategic Development Plan, and the government’s Rectangle Strategy. KOICA focuses on 4 priority sectors—rural development, health, education, and infrastructure. //The End//