Germany commits over 48 mln USD in grants for Cambodia
18:10, October 23, 2007
Germany has committed 34 million euros (about 48.6 million U.S. dollars) in grants for Cambodia in areas of health, rural development and strengthening governance, a press release said on Tuesday.
The Cambodian and German governments held their biannual government negotiations in Bonn on Oct. 16-17, the press release from German embassy here said, adding that an agreement was reached on programs for technical and financial cooperation with a total volume of 34 million euros.
With this new commitment for the period 2007-2008, Germany increased its support to Cambodia by 25 percent in comparison to the last two years cycle, it added.
The major part of this new pledge will be spend to continue ongoing cooperation in the focal areas of German Development Cooperation with Cambodia, including health sector reform, rural development as well as crosscutting activities to strengthen good governance, it said, adding that as a new field of activities both sides agreed to earmark funds for the exploration and promotion of renewable energies, such as biogas and micro-hydropower, in rural Cambodia.
The total volume of bilateral technical and financial cooperation since cooperation began amounts to more than 224 million euros (about 320 million U.S. dollars), according to the press release.
Source: Xinhua
http://english.people.com.cn/90001/90777/6289267.html#
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