Joint programmes to support sustainable financing for Cambodia

PHNOM PENH (Xinhua): The United Nations in Cambodia, in close cooperation with the Ministry of Economy and Finance (MEF), has launched two joint programmes to expand financing options for the Cambodian government, said a joint press statement on Thursday (April 8).

Both programmes have been designed to meet growing demands for development investments and to maintain financial lifelines for micro, small and medium-sized enterprises (MSMEs), particularly women-owned enterprises, the statement said.

The programmes would support the realisation of the Cambodia Sustainable Development Goals (CSDGs), it said.

The first programme, the Integrated National Financing Framework to Catalyze Blended Finance for Transformative CSDG Achievement, will be implemented by two UN agencies and the second program, Unlocking Cambodian Women's Potential Through Fiscal Space Creation (A Credit Guarantee Scheme for Women-owned Enterprises) will be carried out by four UN agencies, the statement said.

"Adapting the principles of the Integrated National Financing Framework to the Cambodian content will allow the government to build a demand-driven financing framework, enable the expansion of development resources, and implement a sound financing strategy," Pauline Tamesis, UN resident coordinator to Cambodia, said.

"The credit guarantee scheme, as part of the innovative financing system, will further provide low-cost and reliable financing to MSME businesses in Cambodia," she added.

MEF's secretary of state Ros Seilava, co-chair of the joint programs' steering committee, said both joint programs are in line with the government's priorities to move the policy and legislative agenda towards the identification and attraction of new and sustainable sources of finance for development.

"The partnership between MEF and UN Cambodia for these joint programs will specifically contribute to the implementation of the government's economic response plan to respond, recover and build resilience from Covid-19, while accelerating the achievement of the CSDGs," said the official.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3

Next In Aseanplus News

Eight dead, dozens hurt as Indonesia quake shakes East Java
Ramadan prayers allowed in Singapore migrant halls where virus spread
Ringgit to trade in tight range versus US dollar from Monday (April 12)
It’s official: bars, parlours, nightspots in 41 provinces in Thailand closed for 2 weeks
Gojek and Tokopedia are very close to creating Indonesian tech champion, say sources
Philippines to ease some tough Covid-19 restrictions from Monday (April 12)
Vietnamese life expectancy up, but non-infectious disease cases rise
Philippines, U.S. defence chiefs hope to resume joint military drill
LG, SK agree on US$1.8bil settlement to end battery spat with US
India logs record of 150,000 Covid-19 infections, starts 'vaccine festival'

Stories You'll Enjoy