cellcard cellcard

Germany Gives $45m Grant for Development

Sum Manet / Khmer Times Share:
Keat Chhon (front-R), first vice-chairman of the Council for the Development of Cambodia, and Joachim Baron von Marschall (L), ambassador of the Federal Republic of Germany, sign an agreement in Phnom Penh yesterday. Supplied

Germany has given a grant to Cambodia worth $45.7 million to promote economic and social development in three ways.
Three agreements were signed yesterday by Keat Chhon, first vice-chairman of the Council for the Development of Cambodia, and Joachim Baron von Marschall, the ambassador of the Federal Republic of Germany. 
 
The first agreement focuses on financial cooperation in 2015-2016, with $22.2 million going to support the implementation of projects to improve rural infrastructure and health, among others. The second will see $16 million used to support decentralization and administrative reform, a social health project, identification of poor households and regional economic development. The third agreement will see $5.26 million used for a project on multi-sectorial food and nutrition security. 
 
Mr. Chhon said the signing of the grant reflects the implementation of commitments agreed to during the last inter-government negotiations between Cambodia and Germany on December 1-2 last year in Berlin. “I highly value the negotiations that took place in an atmosphere of strengthened partnership and mutual trust, aiming to sharpen our cooperation,” Mr. Chhon said. “Germany has implemented many regional programs and Triangle Cooperation, which have also benefitted Cambodia. This financial assistance has complemented the official development assistance, provided under the Cambodian-German bilateral cooperation framework. 
 
“This grant provided has truly contributed to support the Royal Government’s efforts towards achieving its socio-economic development goals, poverty reduction and the Cambodian Millennium Development Goals,” Mr. Chhon added.
 
Mr. Baron von Marschall said the assistance would help develop and improve the Cambodian economy. “We signed three agreements today worth 41.45 million euros [almost $45.7 million] in assistance. This assistance will be efficiently used for the government of Cambodia and will be implemented through GIZ and KFW…three priorities of German-Cambodian cooperation, social protection, rural development and good governance,” he said. 
 
“Our cooperation is in line with the Rectangular Strategy-Phase III of the National Strategic Development Plan in 2014 and 2015,” he added. Germany is a major development partner in Cambodia and has provided technical and financial support of about $500 million from 1992 to 2015.
 
 

Previous Article

Traditional Silk Industry Struggles to Keep its Shine

Next Article

After Prod, Rice Federation Springs to Action