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ADB Loan to Upgrade Cambodia's Siem Reap Airport

Cambodia's Siem Reap airport -- gateway to the historically rich Angkor Wat complex -- will be upgraded with the help of an Asian Development Bank loan approved today for SDR10.372 million (US$15 million equivalent).

Tourists and other travelers will benefit from a safer, more convenient facility, Siem Reap can expect more visitors, and the Government will earn more foreign exchange revenues. An improved airport is also expected to spark off further private development of the country's tourism industry, which will, in turn, create income-generating opportunities for the local population.

The project will upgrade the airport's infrastructure: the terminal, operational buildings and runway. It will also provide equipment for air traffic services, aeronautical communications, and navigational aids to bring airport safety up to international standards. Third, it will strengthen the institutional capacity of the operator.

The ADB is also providing a technical assistance grant of US$550,000 to enable the national aviation authority, the State Secretariat of Civil Aviation (SCCA), to formulate comprehensive business plans and training programs.

The SCCA will be the executing agency for the project which is expected to be completed by end-1999.

The total project cost is US$17.6 million. The ADB loan is interest-free, repayable over 40 years, including a ten-year grace period, and carries a service charge of one percent per annum.

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