The Royal Government of Cambodia and the French Development Agency (AFD) have signed three cooperation financing agreements totaling €183 million (equivalent to US$192.2 million).
The agreements were inked here on Dec. 18 between H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, Ms. Sandrine Boucher, AFD Country Director for Cambodia, Mr. Fabrice Etienne, Chargé d’Affaires a.i. of the French Embassy in Cambodia, and Mr. Bryan Fornari, Head of Cooperation, EU Delegation to Cambodia.
Under the cooperation financing agreements, a concessional loan of US$95.6 million will be used for the restoration and management of Svay Check River in Banteay Meanchey province, while another concessional loan of US$84 million for Bakheng Water Supply Project Phase III, Credit No. 2.
The rest, US$12.6 million, is a grant aid from the EU through AFD for the Bakheng Water Treatment Plant construction project, phase III.
The signing ceremony of the three cooperation financing agreements is a significant event that reflects the excellent cooperation between the Royal Government of Cambodia and the Government of the French Republic, through AFD and EU, underlined the Ministry of Economy and Finance in a press release.
These projects will help support Cambodia’s socio-economic development, which responds to the priorities of the Royal Government’s Pentagonal Strategy – Phase 1 on training technical skills, promoting connectivity and increasing the efficiency of the transport and clean water sectors, and enhancing agriculture and rural development, the source added.
