PHNOM PENH, 21 November 2024 — The Cambodian government has allocated 223 billion riels, equivalent to $55.7 million, from the state budget to provide subsidies to nearly 500,000 vulnerable families, comprising 1.8 million individuals. The funds are part of two key initiatives: cash assistance programs for vulnerable families during inflationary pressures and support for families severely affected by recent floods.

An assessment revealed that 97% of households benefiting from these programs expressed satisfaction with the government’s intervention. The cash subsidies have been used to cover essential expenses such as food, healthcare, medicine, and children’s education.

Dr. John Narith, Undersecretary of State at the Ministry of Economy and Finance and Secretary General of the National Council for Social Protection, highlighted the programs’ significant impact. “These subsidies have mitigated the decline in living conditions for target families,” he said. Key outcomes include:

1. A 13% reduction in the rate of food insecurity.

2. A 7.5% improvement in household savings.

3. Greater ability for families to pay for essential services such as water, electricity, housing, and medical care.

The assessment also revealed that households receiving cash subsidies hold a positive view of the Royal Government and local authorities, with the programs improving household perceptions by approximately 3.5% compared to before their implementation.

Since the launch of the National Social Protection Policy Framework 2016-2025, Cambodia’s social protection system has significantly expanded. Coverage has grown from 3.3 million people in 2017 to over 7 million in 2024, doubling its reach and providing crucial support to those in need.

This initiative demonstrates the government’s commitment to alleviating poverty, promoting resilience, and improving the living standards of Cambodia’s most vulnerable populations.