EU’s Development Cooperation Strategy with Cambodia 2021-2027 Focuses on Three Main Areas

EU’s Development Cooperation Strategy with Cambodia 2021-2027 Focuses on Three Main Areas

The European Union (EU)’s Development Cooperation Strategy with Cambodia 2021-2027 focuses on three priorities namely: 1) Economic Growth and Job Creation; 2) Agriculture and Natural Resource Management, with a strong focus on Fisheries; and 3) Governance and the Rule of Law.

The information was shared by Ms. Carmen Moreno, EU Ambassador to Cambodia during her meeting with Mr. Prak Sokhonn, Deputy Prime Minister, Minister of Foreign Affairs and International Cooperation, in Phnom Penh on Jan. 28.

According to a press release of the Ministry of Foreign Affairs and International Cooperation, The meeting centered on consultations regarding the EU’s development cooperation strategy with Cambodia for the cycle 2021-2027.

The Ambassador also reflected on a number of achievements made under Cambodia-EU development cooperation; among which is the Bakheng Water Supply Project, which is funded by grant aid from the EU and the French Development Agency (AFD), and loans from the European Investment Bank and will create around 16,000 jobs and supply clean water to the people most in need.

During the meeting, both sides exchanged views on the ASEAN Regional Integration Cooperation in particular the development gap within ASEAN countries including the support of the EU to Cambodia’s efforts to integrate into the regional market and value chains, migrant workers, the European market access for Cambodian rice, tourism industry, private sector engagement, skills and social protection, bilateral investment promotion, and the strategies for which both sides agreed on the need to adapt and enhance in light of the COVID-19 pandemic.

Mr. Deputy Prime Minister also extended appreciation to the EU for the latter’s development assistance to Cambodia, which has been implemented both bilaterally and jointly with European countries and has contributed significantly to Cambodia’s socio-economic development over the last two and a half decades. Mr. Deputy Prime Minister welcomes this initial consultation to improve and refine EU development activities and looks forward to the conclusion of the EU’s development cooperation strategy with Cambodia for the cycle 2021-2027.

Between 2014 and 2020, EU provided the financing of US$1.4 billion (including US$1.1 billion grant-aid and US$300 million soft loan) to support the European Development Cooperation Strategy for Cambodia 2014-2020, and about 410 million Euros to support the EU Multiannual Indicative Programme 2014-2020.