Germany to provide Cambodia $66M in loans, grants for infrastructure, poverty reduction

Following negotiations with Cambodian officials, Germany decided to approve a package of $34 million in loans and $32 million in grants.

The German government announced on Tuesday that following negotiations with Cambodian officials it has decided to approve a package of $34 million in loans and $32 million in grants to develop rural infrastructure and reduce poverty.

A press release by the German Embassy urged Cambodia, however, to reverse last year’s democratic backsliding and deterioration in human rights in order to avoid the impending loss of duty-free EU market access for its garment sector and other export industries under the union’s Everything But Arms (EBA) scheme.

The embassy said its $34 million in loans would be part of a rural infrastructure development project with France and the European Union, who would bring the total amount to some $90 million in loans.

In full: https://www.voacambodia.com/a/germany-to-provide-cambodia-66m-in-loans-grants-for-infrastructure-poverty-reduction/4920662.html

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