France has Provided US$900m Financing for Infrastructure Development Projects in Cambodia

21 September 2022
Local News
1364 Views

The French Agency for Development (AFD) has provided a total of €888 million (approximately US$882 million) in loans and grant aid to Cambodia for infrastructure development over the last 30 years.

The figures were raised in a meeting between HE Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance, and Jean-Pierre Marcelli, Regional Director of the French Agency for Development in Southeast Asia, on 20 September.

Among the financing provided by the AFD, €533 million are concessional loans and €178 million are grant aids, focusing on the development of infrastructures such as rural roads, irrigation, agriculture, water, electricity, education, and health, the ministry said in the statement.

Mr Jean-Pierre Marcelli emphasized that the French government would maintain financial cooperation with annual concessional loans of between €100-€120 million to contribute to the development and recovery of the Cambodian economy after the COVI-19 crisis in line with Cambodia’s National Development Policy and Strategy.

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