Phnom penh: Cambodia and Japan have signed an Exchange of Notes and related documents on the extension of a Japanese Yen Loan worth JPY 24.237 billion (approximately US$162.7 million) to support the implementation of the Southwest Phnom Penh Irrigation and Drainage Rehabilitation and Improvement Project (III). The agreement was signed at the Ministry of Foreign Affairs and International Cooperation (MFAIC) on June 22 by H.E. Deputy Prime Minister PRAK Sokhonn, Minister of Foreign Affairs and International Cooperation of Cambodia, and H.E. UENO Atsushi, Ambassador Extraordinary and Plenipotentiary of Japan to Cambodia. According to Agence Kampuchea Presse, the project is designed to enhance agricultural productivity in rural areas and mitigate flood damage by rehabilitating and improving the existing irrigation and drainage facilities in the Southwestern corridor of Phnom Penh. The Ministry underlined that this continued financial assistance reflects Japan's steadfast commitment to promoting Cambodia's socio- economic development and the Cambodia-Japan Comprehensive Strategic Partnership.