Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |
Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

Australia Supports Cambodia's First Green Finance Initiative

  • Posted Sep 4, 2024 10:06 by EAC News
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Phnom Penh, September 4, 2024 — Climate finance is crucial for Cambodia's efforts to tackle climate change and build a net-zero economy. However, securing access to this funding remains a significant challenge for the country.

Australia is playing a key role in supporting Cambodia's Agricultural and Rural Development Bank (ARDB) through its partner, Mekong Strategic Capital (MSC), in the development of the Cambodia Climate Finance Facility (CCFF). This pioneering initiative aims to channel climate finance directly to Cambodia’s private sector, addressing the funding gap for climate-related projects.

The CCFF will be established within the ARDB and co-managed by MSC. It will be financed by the Green Climate Fund (GCF), the Cambodian government, and other co-financiers, with an initial capital commitment of USD 100 million.

Supported by Australia's CAPRED program, the CCFF is expected to become operational by mid-2025. The facility will provide long-term financing for projects focused on climate change mitigation and adaptation, helping to strengthen Cambodia's climate resilience.

Building climate resilience is a key component of Australia's partnership with Cambodia, as both nations work towards resilient, inclusive, and sustainable economic development.


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