The government is considering to extend the cash transfer programme, set to come to an end in September, to the end of this year because of the economic uncertainty caused by the Russia-Ukraine War and food price hike, said Secretary General of the National Social Protection Council H.E. Chan Narith.
“The Royal Government of Cambodia will examine the possibility of continuing the programme until the end of 2022 due to the ongoing COVID-19 crisis […]. Moreover, Cambodia also is under economic pressure from the Russian and Ukrainian war, which affected the lives of Cambodians,” he said at the Report Launching and Dissemination of the Impact Evaluation on the Cash Transfer Programme for the Poor and Vulnerable Households during COVID-19 here on July 27.
The Royal Government has transferred roughly US$744 million to more than 680,000 poor and vulnerable households under the cash transfer programme in 25 months.
Started on June 24, 2020, the programme was designed to provide monthly financial support to the poor and vulnerable households who hold the equity cards in both urban and rural areas across the country to help them in the hard time of the COVID-19 pandemic.
According to the report, the Cash Transfer Programme for the Poor and Vulnerable Households during COVID-19 has had many positive effects. It has helped poor families from falling into food insecurity, debt, the sale of family assets, and eased household expenses, especially on food, medicine and children’s education.
In terms of macroeconomics, it added, the programme contributed to the economic growth of about 0.55 percent in 2020 and 0.45 percent in 2021, and to the reduction of the unemployment rate by 0.57 percent in 2020 and 0.62 percent in 2021, and the poverty rate by about 2.7 percent in 2020 and 3.4 percent in 2021.
Source: Agency Kampuchea Press