French Government has provided concessional loan and grant aid for water irrigation system rehabilitation in Cambodia.
Two cooperation financing agreements were signed virtually here on Nov. 3 by H.E. Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, Fabrice Etienne, First Secretary of the French Embassy in Cambodia, and Ms. Ophelie Bourhis, Country Director of French Development Agency (AFD) to Cambodia.
The first agreement with US$23.13 million is an additional concessional loan focusing on emergency financing for the restoration of water irrigation system damaged by flood in October 2020 in the provinces of Battambang and Banteay Meanchey.
Another agreement is a grant of US$346,800 from Facility for Support, Preparation and Implementation of Project (FAPS), which will be used for feasibility study of the Svay Chek River Restoration and Management Project in Banteay Meanchey province.
The financing clearly replies to the priority demand and contributes to the development and restoration of Cambodia’s economy in the post COVID-19 crisis, H.E. Aun Pornmoniroth said.
“The Republic of France did not only contribute actively to bringing peace to Cambodia, but also is a good friend who always supports Cambodia's development both technically and financially,” he underlined. “The partnership will further strengthen the friendship ties between the governments and peoples of the two countries.”
Source: Agency Kampuchea Press