Australia Invests USD 65 Million to Enhance Cambodia’s Economic Growth through CAPED Program

• 26 October 2024
• Local News
• 433 Views

The Australian Government has committed approximately AUD 87 million (USD 65 million) in new grant funding to the Cambodia-Australia Partnership for Sustainable Economic Development (CAPED) program, aiming to bolster Cambodia’s economic resilience and growth. The announcement was made through a press release from the Ministry of Economy and Finance on 17 October 2024.

The CAPED program represents a significant collaborative effort between the Australian Government and key stakeholders, focusing on accelerating Cambodia’s social and economic progress. Since 1992, Australia has contributed AUD 1.3 billion (USD 1 billion) in aid to Cambodia, supporting various crucial sectors, including agriculture, education and training, governance, healthcare, demining, trade, clean water, clean energy, and COVID-19 vaccination efforts.

As part of strengthening bilateral relations, HE Dr. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance held discussions with His Excellency Derek Yip, Ambassador Extraordinary and Plenipotentiary of Australia, to Cambodia. The meeting aimed to expand further cooperation in financing, bilateral trade, and investment initiatives, laying the groundwork for deeper economic ties and enhanced development outcomes.

• Economy and Finance
• Cooperation and networking