Cambodia Qualifies for Green Climate Fund Finance
Minister Say Sam Al encouraged institutions, especially microfinance institutions, to receive accreditation to propose projects for funds. Photo: Ministry of Environment
- By Meng Seavmey
- December 21, 2022 2:04 PM
PHNOM PENH – Cambodia has qualified for UN Green Climate Fund finance for projects combating climate change and greenhouse gases reduction, the Environment Minister says.
The fund aims to help developing countries to adapt to and mitigate the effects of climate change.
Minister Say Sam Al encouraged institutions, especially microfinance institutions, to receive accreditation to propose projects for funds.
The minister made his statements during the Promotion of Green Financing meeting on Dec. 19, aiming to share with the institutions and microfinances information about the green financing and the procedures.
Sam Al said three factors qualified Cambodia for the fund. One was that Cambodia had been determined to contribute under the United Nations Framework Convention on Climate Change (UNFCCC).
The country was internationally recognized for enhancing public health, education on climate change, and especially as an important comprehensive partner on international forums, Sam Al said.
Lastly, Cambodia had submitted “Cambodia’s updated Nationally Determined Contribution” to the UNFCCC Secretariat and had been congratulated by French President Emmanuel Macron on the country’s determination.
The National Committee for Sub-national Democratic Development (NCDD) has become the first entity to get Green Climate Fund accreditation, the minister said.
On behalf of the head of NCDD Ngan Chamroeun, Sorn Sunsopheak who is deputy director of the Program Management and Support Division at the NCDD Secretariat said the secretariat received accreditation for micro-level projects and was waiting for budget approval.
The secretariat could propose a project to the Green Climate Fund with a $10 million budget, Sunsopheak said.
The secretariat was at the stage of proposal preparation and no projects have yet been approved by the Green Climate Fund.
“The secretariat, however, has the Green Climate Fund’s support within the Readiness and Preparatory Support programme,” Sunsopheak said.
Three themes can receive the support from the Green Climate Fund. One is about adaptation of climate change, another reduces greenhouse gases emissions, and the third benefits both.
Green Climate Fund has not yet responded to a request for comment.
