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Danielle Isaac

, Singapore

Published:

5 years ago

Germany to loan Cambodia $33.95m for rural grid upgrade

But the signing date is not yet set as the duration and interest will have yet to be negotiated.

Germany will loan Cambodia $33.95m (EUR30m) to support the country’s move to upgrade its rural energy grid and boost solar energy, the German embassy to Cambodia announced.

The loan was agreed upon in the embassy’s meeting with Electricite du Cambodge (EDC – Electricity Authority of Cambodia).

The Phnom Penh Post added that the loan is financed by the German Ministry for International Development’s Climate Technology Initiative and will be implemented by KfW, Germany’s development bank.

An embassy spokesperson told the paper that the loan’s signing date is not set and the loan duration and interest will first be negotiated between KfW and the Ministry of Economy and Finance.

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