Cambodia and the EU have discussed extending the implementation of the Joint European Development Cooperation Strategy for Cambodia 2014-2019 a further 10 years, according to a Thursday press release from the Council for the Development of Cambodia.

In a meeting on Tuesday between Chhieng Yanara, secretary-general of the Cambodia Rehabilitation and Development Board of the Council for the Development of Cambodia, and George Edgar, EU Ambassador to Cambodia, the two sides discussed the preparation of a new strategy for Cambodia over the medium term lasting seven to 10 years.

The strategy is set to focus on the implementation of the UN’s Sustainable Development Goals in Cambodia and the Kingdom’s graduation from least developed country status.

“The new strategy will continue to implement and further strengthen the success which was achieved by the 2014-2019 European Strategy,” the release said.

According to the release, $1.130 billion in EU funding will have been provided during the programme’s current phase, which began in 2014 and is set to end this year. Of the total, $818 million is made up of grants and $311 million concessional loans.

The Joint European Development Cooperation Strategy for Cambodia focuses on several priority areas, namely governance, boosting equitable and sustainable economic growth, physical infrastructure development, skills development and employment generation, and human resource development.