Building Bridges of Progress: Europe’s 30-Year Investment Surpasses US$1.4 Billion in Cambodia’s Key Sectors

• 19 December 2023
• Local News
• 1020 Views

In an enduring partnership spanning three decades, the European Union has been a steadfast supporter of Cambodia’s development, injecting over US$1.4 billion from 1992 to 2022 into crucial sectors.

The Council for the Development of Cambodia, in a press release dated 12 December 2023, revealed that this substantial cooperation financing, constituting 4.9% of all support from development partners, has been instrumental in fostering progress.

The year 2023 marks another chapter in this collaborative journey, with the EU pledging Euro 82 million (US$88 million) in co-financing. This commitment underscores the EU’s dedication to bolstering key sectors such as agriculture, environment, industry, education, trade, and the private sector.

Highlighting the significance of this enduring collaboration, Cambodia and the European Union have jointly initiated the Joint European Strategy 2021-2027, the New EU Multi-Year Guidelines 2021-2027, and the Team Europe Initiative. Additionally, the EU Vision for Continuing Better Cooperation with Cambodia sets the stage for a future characterized by shared goals and mutual prosperity.

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