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Logo of Phnom Penh Post newspaper Phnom Penh Post - France set to grant Cambodia $47.7m

France set to grant Cambodia $47.7m

The French Development Agency yesterday agreed to grant Cambodia a total of $47.7 million, $8.7 million of which is a loan.

The sum is to support the Kingdom’s irrigation infrastructure investment, to improve the country’s access to drinkable water and to fund the fight against emerging diseases in the region.  

A series of memorandums of understanding were signed yesterday by French Development Agency general director Dov Zerah, Cambodian Economy and Finance Minister Keat Chhon and two other representatives of relevant ministries.

During his speech after the signing ceremony, Keat Chhon said he was very pleased with the financial support, which would expand development co-operation between the two countries.

In particular, he welcomed the possibility to benefit from a new financial tool, so-called flexible loans.

“The financing is a major contribution to Cambodia’s development as well as proof of the good relations between the two countries,” Chhon said.

The first agreement was a grant of $5.2 million to allow the French Development Agency to support the state and non-state actors involved in the management of water and to continue rehabilitation works on about 40 irrigation schemes.

Another agreement was the conclusion between Dov Zerah and Phnom Penh Water Supply Authority general director Sim Sitha of a $39 million loan to construct the second stage of the Niroth water-treatment plant, in southeastern Phnom Penh.   

The third was a grant agreement, worth $3.5 million, to support the Pasteur Institute in Cambodia with its medical research on emerging diseases.

Yesterday’s agreement was reached one month after French Prime Minister Jean-Marc Ayrault visited Cambodia.  

“The conclusion of the financial agreements today is a good illustration of the French Development Agency’s specificity to support the social-economic development of this country,” Zerah said.

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