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EU pledges 410 mln EUR to Cambodia in 2014-2020

The European Union (EU) announced it has allocated 410 million EUR (510 million USD) in aid for Cambodia to help the country boost its economic development in the 2014-2020 period.
The European Union (EU) announced it has allocated 410 million EUR (510million USD) in aid for Cambodia to help the country boost itseconomic development in the 2014-2020 period.

According to theEuropean Commission’s December 22 press release, the aid package isthree times higher than that granted for Cambodia during 2007-2013.

EUHigh Representative for Foreign Affairs and Security Policy FedericaMogherini said the assistance affirms the EU’s commitment to Cambodia’s political stabilisation and socio-economic development efforts.

Appreciatingthe encouraging achievements Cambodia has made in recent time, sheexpressed her hope that the EU will further contribute to the inclusiveand sustainable economic growth as well as strengthening the democraticprogress in the country.

Neven Mimica, Commissioner in charge ofInternational Cooperation and Development, said that the fund willcontinue to help Cambodia step up poverty reduction and acceleratereforms in education, agriculture, natural resources and administrationmanagement.

Besides this aid, Cambodia will receive support from other EU programmes, the press release added.-VNA
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