Cambodia Reaches Cooperation of Sustainable Finance

Cambodia has reached a cooperation of sustainable finance among environment ministry, banking sector and development agency USAID Green Investment Asia.

Cooperative memorandums of understanding were officially signed yesterday at Rosewood Phnom Penh Hotel in the presence of H.E. Sao Sopheap, Environment Secretary of State and Chair of the National Council for Sustainable Development.

According to environment ministry, the cooperation symbolised continued interaction among the Royal Government of Cambodia, private corporation, banking sector and development agency in tackling environmental issues in the Kingdom.

The agreements, it added, will allow sustainable financing in the banking sector to contribute to climate change reduction, environment and biodiversity conservation as well as natural resource management toward lasting development.

Well aligned with the current Rectangular Strategy of the government, the mechanism will not only lead to a better environment in Cambodia, but also enable the banking sector to mobilise their capital from international funding agency with low interest rate.

Source: Agency Kampuchea Press