FRANCE is placing an increased emphasis on investment and loans for
Cambodia’s economic development, rather than assistance through
development aid, according to its Ambassador Christian Connan.
A
rapidly improving Cambodian economy contributed to the change in
emphasis, as well as the effects of the global financial crisis, which
reduced aid flows from France along with other western nations.
“We
are going to be working as much as possible by loans,” the French
Ambassador said, adding that some projects – such as France’s assistance
with universities and restoration work such as Baphoun temple in Siem
Reap – were unsuitable for loans and would still be funded by grants.
“The
French development aid has decreased, taking into account that Cambodia
has now undergone important economic growth and is not a post-conflict
country anymore,” he said, adding Cambodian officials had agreed with
this approach.
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