France Grants Over US$96 Million for Three Development Projects in Cambodia

French Development Agency (AFD) has granted some 84.67 million Euro (roughly US$96.4 million) as financing assistance for three development projects in Cambodia.

The financing agreements were signed by Deputy Prime Minister and Minister of Economy and Finance H.E. Aun Pornmoniroth and Mr. Remi Genevey, Director of AFD's East Asia, Middle East and Asia Department.

H.E. Ms. Eva Nguyen Binh, French Ambassador to Cambodia also witnessed the official signing event taking place here in Phnom Penh recently.

Fifty-five (55) million Euro of the amount will be used for water resource management and agricultural exchange of Cambodia, including rehabilitation of canals and irrigation systems in Kandal, Battambang, Preah Vihear, Siem Reap and Kampong Thom provinces.

Another 25 million Euro will be used for improvement of sustainable fisheries sector significantly contributing to ensuring food security, social economic development and implementation of national aquaculture development strategy and fisheries strategic plan framework.

The rest 4.67 million Euro will go to clean water and hygienic management programme in Cambodia's provinces to align with national strategy on clean water supply and rural hygiene for 2011-2025.

Since 1993, AFD has provided over 554 million Euro as financing assistance to Cambodia.

Source: Agency Kampuchea Press