Cambodia and Germany sign two cooperative financing agreements worth over US$ 74 million

RNK Phnom Penh, Dec, 2nd , 2019-

Cambodia’s Deputy Prime Minister and Minister of Economy and Finance,H.E Aun Porn Moniroth and German Ambassador to Cambodia, H.E Christian Berger last Thursday signed two cooperative financing agreements of more than € 67 million, approximately US$ 74 million.

Under the 2018 cooperative financing agreement, the Government of Germany will provide € 30 million of concessional loans and € 2 million in grant aid for financing energy efficiency projects for rural electricity supply and as for the 2019 Cooperative financing agreement, the German Government will provide a € 30 million concessional loan for rural infrastructure development and a grant aid of € 5.1 million for support for other specific projects.

The Minister said that the Government of Germany is the second European development partner after the Government of the Republic of France, which granted concessional loan to Cambodia

He stressed that the cooperative financing agreement was an important commitment reflecting the friendly cooperation between the Government of the two countries in supporting of social economic development in the Kingdom.

By Mr Pheara!