The European Union is preparing to disburse a grant of 115 million euro ($131 million) to Cambodia that will be used for programs related to public financial management reform, sustainability in the fishing sector and climate change.
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The agreement is expected to be signed in early 2019.
During a meeting on Monday with Aun Pornmonirath, Cambodia’s Deputy Prime Minister, EU Ambassador George Edgar congratulated the government for its successful implementation of various projects under the cooperation framework between Cambodia and the EU.
He said that in order to continue supporting and strengthening the cooperation, the EU is preparing a grant of 115 million euro for three key projects: public financial management reform, sustainability in the fishing sector, and climate change.
“Of the total amount, 22 million euro ($25 million) will be injected into the public financial management reform project, while 87 million euro ($99 million) will go to the sustainability in the fishing sector programme. Finally, 6 million euro ($6.8 million) will be used to fight climate change in Cambodia,” Mr Edgar said.
Aun Pornmonirath, who is also Cambodia’s Minister of Economy and Finance, thanked the EU for its support, and said that the EU understood the achievements Cambodia has made so far.