Several EU Members Provide Co-financing of US$115 million for Cambodia’s Rural Infrastructure Development

• Samphors Sao
• 25 December 2020
• Local News
• 2955 Views

The German development bank KfW, AgenceFrançaise de Développement (AFD) and the European Union (EU) have provided US$115 million in co-funding to Cambodia for rural infrastructure development projects in the central area of the country.

The agreement was signed recently by the Cambodian government, the German development bank KfW, AFD and the EU representatives, according to a press release issued this week.

Named RID4CAM, the funding project aims to improve the road network in the country’s central plain provinces and to enhance the drinking water, sanitary, agriculture, health and education sectors as well.

According to the statement, part of the financing is in the form of grant aid.

Christian Berger, German ambassador to Cambodia, said that the financing is expected to improve access of people through rebuilding flood-damaged roads in rural areas.

“Recent floods have shown how important it is to make roads resilient for extreme weather events. Rural roads are vital economic lifelines for 70% of the Cambodian population. I am proud that Germany joins hands with France and the EU to contribute to a climate-resilient rural infrastructure which will assure access to markets, schools and health centres also during extreme weather events,” Christian Berger said.

According to the government data, the recent flooding damaged at least 3,000km of infrastructure and an estimated budget of US$91 million is needed to fix all them. (Read more)

• Social and Contribution
• Investment and Funding
• Road and Infrastructure