Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia to receive loan from France

Cambodia to receive loan from France

The French Development Agency (AFD) will lend €104 million (about $115 million) to Cambodia for a variety of projects in the country.

French Foreign Affairs Minister Laurent Fabius signed the loan with Prime Minister Hun Sen on Monday afternoon.

According to AFD, €70 million will go to Electricite du Cambodge to extend power lines through Koh Kong, Kratie and Kampong Cham provinces.

Eleven million euros will pay for the construction of tourism sector vocational training schools – one in Phnom Penh and one in Sihanoukville.

Eight million euros will support the Siem Reap Water Authority’s construction of a water facility and pipes.

The remaining funds will go to the Ministry of Labour to bolster vocational training.

According to the AFD, the loans mature in about 15 to 20 years, including four to seven years of grace period.

Philippe Steinmetz, the AFD country director for Cambodia and Laos, said in an email that AFD is planning to "lend to Cambodia an average of 50-80 million Euros per year, in line with the country’s priorities and borrowing plan".

France and Cambodia also signed an extradition treaty at the meeting.

0

Comments

Please, login or register to post a comment

Latest Video

Explore the durian and rubber farms of Kampong Cham

Take a drive north of Kampong Cham, past the dirt roads and the dense greenery.

Kem Sokha talks politics, power and Hun Sen

Kem Sokha, leader of the Cambodia National Rescue Party, sat down with The Post’s Alex Willemyns and Mech Dara to discuss his supporters’ initial disappointment with this year’s

The final results from the National Election Committee for the June 4 commune elections show the Cambodian People’s Party taking 1,156 communes to

NEC officials tally votes during a recount last week in Phnom Penh.

Cambodia’s National Election Committee last week rejected 33 of 61 complaints filed over the conduct of June 4’s commune election, according to a s