NCB to wrap up sustainable finance roadmap this year

NCB to wrap up sustainable finance roadmap this year

The National Bank of Cambodia (NBC) will finalize the development of its sustainable finance roadmap and launch its implementation this year, marking a significant step towards aligning the nation’s financial system with its sustainable development goals, according to its annual report.

The Sustainable Finance Roadmap aims to align Cambodia’s financial system with its broader sustainable development goals, specifically addressing climate change, promoting environmental sustainability, and including considerations to enhance social and economic well-being.

The central bank, in partnership with the United Nations Economic and Social Commissions for Asia and the Pacific (ESCAP), has developing the roadmap since 2023.

“Finalize the Cambodia Sustainable Finance Roadmaps and request for approval from Green Finance Group as well as launch the implementation of this roadmap in 2025,” read the report.

The roadmap will help accelerate Cambodia’s transition to a green economy. It outlines a clear plan to assess financing needs, identify gaps, and explore funding sources and options in alignment with Cambodia’s national sustainable development and climate targets.

It will also highlight prospective projects and investment pipelines eligible for financing.

The adoption of the roadmap would support Cambodia to create a more resilient and stable financial system that supports long-term economic and environmental sustainability.

The National Bank of Cambodia said it has been focusing on and prioritizing sustainable financial promotion as one of its priorities by actively contributing to the Cambodian government’s policy development and strategic planning process, organizing initiatives and discussions in the national, regional and global frameworks, and collaborating with development partners, relevant ministries and institutions, and private sector.

Earlier, NBC Governor Chea Serey said that the development of the roadmap will be inclusive, integrated, multi-stakeholder and strategic to accelerate the development of a sustainable finance system.

“The roadmap will include a clear plan for aggregating finance needs, gaps, sources and options in line with the national sustainable development climate targets. It will also identify prospective projects and investment pipelines eligible for financing,” she said.

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