Phnom penh: H.E. Dr. Kao Thach, Delegate of the Royal Government in charge as Chief Executive Officer of the Agricultural and Rural Development Bank (ARDB), engaged in a significant meeting with a delegation from the Cambodia Microfinance Association (CMA) and representatives of Water.org to discuss potential cooperation focused on accelerating green financing and promoting financial inclusion in Cambodia.
According to Agence Kampuchea Presse, the meeting aimed to expand sustainable financing opportunities, particularly in sectors related to water access, agriculture, and rural development. H.E. Dr. Kao Thach underscored the pivotal role of water resources in enhancing agricultural productivity and supporting rural livelihoods, noting their importance in ensuring food security, income generation, and climate resilience, especially for communities susceptible to climate change impacts.
H.E. Dr. Kao Thach highlighted the integral connection between water resources and green finance, emphasizing that investing in water infrastructure, sanitation systems, and efficient irrigation technologies is crucial for sustainable and climate-resilient development. He acknowledged that Water.org’s programmes align closely with ARDB’s strategic priorities, particularly through the Cambodia Climate Finance Facility (CCFF).
The CCFF, with a funding of US$100 million approved by the Green Climate Fund, aims to support climate change mitigation and adaptation by providing direct financing for green projects and wholesale funding to local financial institutions. During the meeting, participants explored several potential areas of collaboration, including the development of a memorandum of understanding, organizing a national workshop for CMA members on financial inclusion and green finance, with a particular focus on the CCFF programme, and exploring joint projects and collaborative research initiatives.
Both parties agreed to continue discussions to further refine collaboration opportunities aimed at strengthening Cambodia’s green finance ecosystem and expanding access to sustainable financial services.