The European Union and the Swedish International Development Cooperation Agency (SIDA) have agreed to provide a grant of €33.1 million to support the third phase of Cambodia’s Public Financial Management Reform Program, state news agency AKP announced Friday.

The project commenced in 2004 with the first phase focused on “the credibility of the budget.” The second phase began in 2008 and addressed “financial accountability.” The third phase focuses on “the connection between budget and policy.”