German Promises to Provide EUR30M in Loan Concession for Rural Energy Development II

German has promised to provide EUR30 million (over US$31 million) in loan concession for Energy Efficiency in Rural Supply II Project.

This is according to the signing ceremony of the cooperation financing agreement between the Royal Government of Cambodia and the Government of the Federal Republic of Germany on May 31, 2022.

This loan will be applied to the strengthening of energy efficiency and supply in rural areas in Cambodia, which the Royal Government has been working on.

The Ministry of Economy and Finance will sign a loan concession agreement with KfW Development Bank when the feasibility study of this phase II project has been done.

Through KfW, German had already provided EUR30 million in loan concession in 2019 for Energy Efficiency in Rural Supply I Project.

Besides; in 2020, this bank also provided EUR30 million in financing for rural infrastructure development in Cambodia.

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