AFD’s 50 Million Euro for Cambodia’s Development Projects

French Agency for Development (AFD) has decided to finance two major development projects in Cambodia with 50 million Euro, according to the Ministry of Economy and Finance.

The agreements of the financing were inked during recent consultation meeting between the ministry's Secretary of State H.E. Vongsey Vissoth and Mr. Philippe Bauduin, AFD Deputy Executive Officer, at the AFD headquarters in Paris, France.

Of the amount, 40 million Euro will be used to promote water supply and sanitation services in provincial cities, while the rest 10 million Euro go to capacity building and studies.

Thanking AFD, H.E. Vongsey Vissoth encouraged that the funding assistance needs to be aligned with Cambodia's priorities and policies in order to effectively sustain the country's high economic performance as well as alleviate poverty.

Since 1993, AFD has awarded a total of more than 435 million Euro to fund Cambodia's development projects.

Source: Agency Kampuchea Press