Southeast Asia Information Port News (www.dnyxxg.com) – On December 9th, the Cambodian government and the French Development Agency (AFD) successfully signed a financing cooperation agreement totaling €72 million (approximately US$83.82 million) at the Ministry of Economy and Finance in Phnom Penh. This funding will be used to implement three key projects aimed at enhancing Cambodia's urban climate resilience, ensuring water security, and strengthening water resource management.
The financing cooperation agreement was jointly signed by Cambodian Deputy Prime Minister and Minister of Economy and Finance, Aun Pornmoniroth, and Ms. Sandrine Boucher, Head of the AFD Cambodia Office.
According to the Ministry of Water Resources and Meteorology, the €72 million financing provided by AFD will be used for three important projects. Of the total, €60 million is a concessional loan to implement investment projects aimed at enhancing cities' resilience to climate change and ensuring safe water supply for residents; €10 million is an additional loan from the French Development Agency (ADA) to modernize Cambodia's water resource management and transform the industry to achieve sustainable water use; and €2 million is a grant from ADA specifically for the restoration and management of the Si Vai Chin River Reservoir to improve its functionality and efficiency.
The signing of this financing agreement marks a new stage in cooperation between Cambodia and France in infrastructure development and sustainable development. This funding will strongly support Cambodia's efforts to address the challenges of climate change, improve people's livelihoods, and achieve the United Nations Sustainable Development Goals.
