PHNOM PENH: Cambodia's Deputy Prime Minister and also the Minister of Economy and Finance Aun Porn Moniroth, the First Secretary of the Embassy of the French Republic in Cambodia Fabrice Ientienne, and the Director of the French Agency for Development in Cambodia Ms. Ophelie Bourhis have signed via video conference two cooperative financing agreements on Wednesday.

The two financing agreements signed were about the Additional Concessional Loan Agreement for Water Resources Management Program and Agricultural Transformation for Cambodia Phase 1 (Water Resources Management) and Agro-Ecological Transition for Cambodia Program Phase 1 (WAT4CAM).

Approximately about $23.13 million is allocated for emergency funding for the rehabilitation of irrigation systems damaged by floods in October 2020 in Battambang and Banteay Meanchey provinces. And another $ 346,800 is allocated for Support, Preparation and Implementation of Project (FAPS) for financing the feasibility study of Stung Svay Chek Rehabilitation Project (Svay Chek River Restoration and Management Project) in Banteay Meanchey Province.

The Deputy Prime Minister has stated that the financing of the above projects / programs is in clear response to the priority needs to contribute to the development and recovery of the Cambodian economy after the Covid-19 crisis in line with the principles of Cambodia's national development policy and strategy by promoting agriculture and rural development through the construction of irrigation systems.

The French Republic is not only a country that has been actively involved in bringing peace to Cambodia, but also a great friend who has always provided both technical and financial support to Cambodia's development, and this partnership will strengthen the ties between the government and the people of the two countries.

^{PHOTO: AKP}