Macroeconomic Conference Held to Outline Strategies for Cambodia’s Green Economy Transition

The National Bank of Cambodia, in collaboration with the United Nations Development Programmes (UNDP) organised the 10th annual Macroeconomic Conference in Phnom Penh, outlining strategies for Cambodia’s green economy transition.

The conference, taking place at the Sofitel Phnom Penh Phokeethra on Dec. 8, gave a valuable platform for convening government officials, development partners, the financial community, experts, and researchers, and for fostering research and policy dialogue on the optimal development model for attaining the Kingdom’s development ambitions.

This year’s conference brought together 200 participants from ministries, development partners, research institutions, chamber of commerce, associations, embassies, and universities.

The purpose of the conference was to disseminate the results of the research papers on the research theme “Climate Risk and Green Economy Transition”, to collect inputs from stakeholders who work explicitly on the area of green development, to identify the policy gap toward Cambodia’s green economy and to promote research culture in Cambodia.

As climate risk has a negative impact across all sectors in an economy and requires further discussion among policy makers and stakeholders for policy formulation, the National Bank of Cambodia has set the research theme for the 10th Macroeconomic Conference 2023: “Climate Risk and Green Economy Transition”.

Today’s conference is to disseminate the results of our research paper on climate risk and the green economy transition conducted by researchers from the Ministry of Environment, the National Bank of Cambodia, Universities, and development partners, said H.E. Ms. Chea Serey, Governor of the National Bank of Cambodia.

UNDP Resident Representative, Ms. Alissar Chaker, lauded the Royal Government of Cambodia for prudently embracing this sustainability and climate-resilient economic model in its Pentagonal Strategy and other sectoral policies and plans. Advances have also been made in this direction.

“UNDP will continue its support to the Royal Government of Cambodia in scaling up climate finance and to assist in achieving the national climate agenda through ambitious finance strategies,” she added.

UNDP and other sister UN agencies have been supporting the country’s transition towards a more sustainable and greener economic model to accelerate its progress on socio-economic development, she underlined.

UNDP is now providing technical assistance to the Ministry of Economy and Finance to develop the needed capacities and enabling ecosystem for the issuance of a green or thematic bond, in partnership with the United Nations Economic and Social Commission for Asia and the Pacific, the Global Green Growth Institute, and the Securities and Exchange Regulator of Cambodia, Ms. Alissar Chaker said.