Cambodia has been studying a proposal to establish a Cambodian climate finance facility for it to contribute to the development of a low-carbon national economy and to respond to climate change.

Minister of Environment Say Samal chaired a meeting on August 19 to discuss the proposed project to establish a Cambodian climate finance facility at the headquarters of the Ministry of Environment.

The meeting brought together Ros Seilava, secretary of state of the Ministry of Economy and Finance and Kao Thach, chief executive officer of the Agricultural and Rural Development Bank (ARDB)

According to the environment ministry, the meeting discussed the establishment of a Cambodian climate finance facility and the financing process and loans offered to the private sector so that they will participate in the implementation of green projects and climate change response projects to contribute to the development of a low-carbon and climate-resilient national economy in priority areas.

Those areas cover forestry and agricultural land use, water resources, renewable energy, efficient energy and transport, as well as contributing to support the Kingdom’s sustainable development goals

During the discussion, the Mekong Strategic Partnership presented the results of a study on the establishment of the Cambodian climate finance facility and solicited input from the private sector, especially the comments and suggestions from the representatives of the Ministry of Economy and Finance and the Rural Development and Agriculture Bank (ARDB).