United States Provides Over $24 million for Economic Growth in Cambodia

FOR IMMEDIATE RELEASE
September 15, 2008
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The U.S. Government and the Royal Government of Cambodia today signed a four-year bilateral agreement that will provide $26 million in funding to support Cambodian priorities in economic growth. Of that amount, the U.S. Agency for International Development (USAID) will provide $24 million in funding, and the Cambodian government will provide $2 million of in kind support. U.S. Deputy Secretary of State John D. Negroponte and Samdech Hun Sen, Prime Minister of Cambodia, presided over the signing. H.E. Sok An, Deputy Prime Minister and Minister in charge of The Office of the Council of Ministers, and Erin Soto, USAID Mission Director, signed on behalf of their respective governments.

In FY2008, the U.S. Government will provide $8.2 million to achieve economic growth objectives. These funds will expand USAID's highly successful Micro, Small and Medium Enterprise (MSME) program, seeking to improve the productivity of rural enterprises by connecting and strengthening all levels of an industry supply chain. The new program will expand this value chain work and add two new areas of focus: strengthening the voice of the private sector and strengthening the public sector's capacity to improve the business-enabling environment.

In addition to economic growth, USAID supports a broad range of programs designed to benefit all Cambodians, including health, education, human rights, rule of law, local governance and decentralization, anti-corruption, and combating trafficking in persons. USAID expects to commit $57.5 million in total assistance to Cambodia in FY2008.

For more information about USAID programs in Cambodia, please visit our website at www.usaid.gov.