France Provides Us$30 Million for Developing Cambodia’s Power Transmission Network

• 9 May 2019
• Local News
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France Development Agency (AFD) and the European Union have decided to provide of €$29.1 million in cooperation financing, approximately US$30 million for implementing on modernizing the power transmission system in Cambodia.

The agreement of the cooperation financing was signed on May 6 by H.E. Aun Pornmoniroth, Minister of Economy and Finance and Remi Riou, general manager of the French Development Agency, in Paris, France.

“The concession loan of €$25 million is from the AFD and €$4.1 million is from the EU for implementation of the modernization on power transmission system and this project is aimed to strengthen the power management system with a smart grid and increase the efficiency and sustainability of the power supply in Cambodia”, the ministry said in a press release dated May 6.

Mr Remi Riou highly valued the Cambodia’s economic growth and said the AFD will continue providing loan for development in Cambodia.

“For good cooperation in Cambodia, the AFD aims to increase loan amount annually to be in line of current condition of development in Cambodia”, Mr Remi Riou was quoted in the statement.

Cambodian government has set its goal of power development, targeting that all villages nationwide will be electrified and by 2030 all individual households will access to the electricity.

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