EU Provides US$17 million for Cambodia’s Rural Infrastructure Development

• Proeksa Meas
• 13 October 2021
• Uncategorized
• 1486 Views

The European Union through the Europe Investment Bank (EIB) will provide a €15 million grant aid (approximately US$17 million) to Cambodia for rural infrastructure development.

The grant is part of the project to accelerate the implementation of the Sustainable Assets for Agriculture Markets, Business and Trade (SAAMBAT), according to a press release issued on 4 October.

SAAMBAT is a US$120 million partnership investment made by the International Fund for Agricultural Development (IFAD), the EIB and the Royal Government of Cambodia.

It is designed to improve living standards and the ease of doing business for some 200 000 rural Cambodian families by creating a reliable and safer road network year-round, better rural infrastructure and a reliable food supply.

With Team Europe and IFAD investments and grants, and funds from the Royal Government, Cambodia will build approximately 650km of paved road and 150km of gravel road and improve 50 rural market areas and about 25 other value chain logistics facilities.

HE Hem Vanndy, Secretary of State, Ministry of Economy and Finance said the grant resources are an important contribution to the rapid and sustainable development of rural communities in Cambodia and to the green recovery from the global COVID-19 pandemic.

 

 

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