Germany Pledges $ 66 Million in Economic Aid
Chhieng Yanara, Second Vice-President of the CDC, concluded talks with Andreas Pfeil, Head of the East Asia and Southeast Asia Division at the Federal Ministry of Economic Cooperation and Development Germany (BMZ) in Bonn, Germany
- By Ou Sokmean
- October 20, 2023 7:10 PM
PHNOM PENH – Germany has pledged about $66 million in grant aid to Cambodia to support social and economic development.
The grant includes financial and technical cooperation for 2023-2024, the Council for the Development of Cambodia (CDC) says.
The German government has continued its cooperation with Cambodia in developing several key areas.
The two countries continue to develop sustainable economic sectors, health and social protection, as well as energy-climate and other sectors that align with national development priorities as set out in the Pentagon-Phase I strategy and Germany's 2030 Agenda.
The grant was announced by Andreas Pfeil, head of the East Asia and Southeast Asia Division at the Federal Ministry of Economic Cooperation and Development Germany during a visit of CDC’s second vice president Chhieng Yanara on Oct.17 and 18.
For nine months in 2023, trade between Cambodia and Germany reached $778 million. Cambodia's exports to European countries were about $620 million and imports were $159 million.
Cambodia's exports to Germany are mainly garments, footwear, travel goods, agricultural products, electrical parts and bicycles.
The main imports are vehicles, construction materials and furniture. Germany is the seventh-largest trading partner of Cambodia.
