Cambodia, Germany to Implement New Programme to Boost Economic Modernisation

AKP Phnom Penh, August 28, 2020 —

Cambodia and Germany are planning to implement a new phase of basic economic development programme to boost economic modernisation in Cambodia.

The update was shared in a virtual meeting co-chaired by H.E. Chhieng Yanara, Minister attached to the Prime Minister and Secretary General of the Cambodian Rehabilitation and Development Board of the Council for the Development of Cambodia (CDC) and Mrs. Dr. Sabine Schmid, Expert of German Agency for International Cooperation (GIZ) recently.

The meeting was intended to discuss and set priorities for the programme that will succeed the Regional Economic Development Programme, phase IV (RED IV) which will finish in the third semester of 2021.

To be kick-started in late 2021, the new programme will focus on institutional economic development which is a change from family economy to economic diversification and modernisation.

The existing RED IV is a technical cooperation programme under the framework of financing cooperation between Germany through GIZ and Switzerland through Swiss Agency for Development and Cooperation (SDC) in collaboration with CDC and sub-national administrations.

RED IV has been implemented since April 2018 in Cambodia’s four provinces: Banteay Meanchey, Oddar Meanchey, Preah Vihear and Siem Reap,and costs about 8.41 million Euros including the 10 percent from the Royal Government of Cambodia.

(Photo: CDC)

By Lim Nary