Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - France fronts $359 million

France fronts $359 million

The French Agency for Development (AFD) has pledged $359 million in grants and loans to Cambodia over the next three years, state news agency AKP reported Friday.

Announced during a meeting last week between Cambodian Finance Minister Aun Porn Moniroth and AFD Asia director Gregory Clemente, the sum includes $14 million worth of grants, $160 million in concessional loans and $180 million in interest-free loans.

According to AKP, the international development assistance will be put towards agricultural development, infrastructure and vocational training.

Cambodia only became eligible for sovereign loans from AFD in 2012, when the IMF upgraded the Kingdom’s debt ranking.

From 1993 to 2013, AFD disbursed more than $369 million in project funding to Cambodia, according to its website.

0

Comments

Please, login or register to post a comment

Latest Video

State of Play

Corruption, aid and the new political outlook

Sophal Ear, one of the foremost Cambodian political economists, sat down with State of Play to discuss his theories on how foreign aid has weakened governance in Cambodia and how these lessons might apply to political

Rainsy after the deadlock

Rainsy after the deadlock

For almost one year Sam Rainsy and his party refused to take their seats in parliament, despite winning the most seats in last year's election that he has since leaving the government.