On February 16, 2024, a significant meeting took place at the Ministry of Foreign Affairs and International Cooperation in Cambodia, where Her Excellency KHIEV Sophany, Secretary of State, engaged in discussions with Mr. TANINAI Ichitomo, Minister and Deputy Chief of Mission from the Embassy of Japan to Cambodia.
The focal point of the discussions was to explore effective strategies and methodologies for the refinement of procedural aspects related to banking documents. These documents, notably the Banking Arrangement (B/A) and Authorization to Pay (A/P), are crucial for the administration of Grant Projects in Cambodia that are financed by the Government of Japan. The overarching goal of these deliberations was to streamline the processes involved in receiving grant aid, aiming for a more rapid, straightforward, and efficient system.
The meeting was not only significant due to the high-level participants but also because it saw the involvement of representatives from the Ministry of Economy and Finance as well as the National Bank of Cambodia. This collective gathering underscored the multifaceted approach being taken to address the procedural enhancements, reflecting the collaborative effort between Cambodia and Japan to ensure the effective utilization of grant aids.
The discussions are indicative of the ongoing commitment between the two nations to fortify their bilateral relations, particularly in the realm of financial cooperation. By focusing on the optimization of grant project procedures, Cambodia and Japan are working together to ensure that the aid provided is accessed and utilized in the most efficient manner possible, thereby contributing to the developmental goals of Cambodia.
This meeting marks another step in the longstanding cooperation between Cambodia and Japan, highlighting the mutual interest in fostering development and prosperity through streamlined and effective administrative processes.
Source: MFAIC
