Phnom Penh, Cambodia, 16 November 2023 – The Global Green Growth Institute (GGGI), in collaboration with the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the United Nations Development Programme (UNDP), and the Ministry of Economy and Finance (MEF) of Cambodia, proudly inaugurated the first in a series of Capacity-Building Training for Sovereign Thematic Bond Issuance. This comprehensive training series, structured into four stages.

The event brought together 42 participants from MEF, with 35% representation of women. The event was opened by Mr. Tieng Sokphyrom, Director of the Department of Government Securities at the Ministry of Economy and Finance and welcomed by Ms. Shomi Kim, Country Representative of GGGI Cambodia, with the presence of representatives UNESCAP, UNDP, SERC, NSPC and key stakeholders from various departments of government agencies also participated, serving as task force members.

Focused on the first stage, “Feasibility,” the first training workshop aimed at equipping the Ministry of Economy and Finance and its stakeholders with the necessary knowledge and skills to navigate the landscape of sovereign thematic bond issuance and sustainable financing in Cambodia. The subsequent stages, “Pre-Issuance” and “Issuance,” are scheduled for December 2023, with the final stage, “Post-Issuance and Project Implementation,” set for 2024.

The collaborative effort between GGGI, UNESCAP, UNDP, and the Ministry of Economy and Finance is a testament to their commitment to supporting the Cambodian government in sustainable financing and related sectors. This training series aligns with recent developments, including the approval of the POLICY FRAMEWORK ON THE DEVELOPMENT OF GOVERNMENT SECURITIES 2023-2028 by the Prime Minister on 2 November 2023.

Ms. Shomi Kim, GGGI Cambodia Country Representative, highlighted the significance of the training, stating, “In collaboration with GGGI, UNESCAP, UNDP, and the Ministry of Economy and Finance, we have designed a participatory training series for sovereign bond issuance. Our goal is to support MEF in understanding the thematic bond concept, financial needs identification, green project identification, and the process of sovereign thematic bond issuance.”

The ultimate goal of this training series is to pave the way for Cambodia’s first sovereign thematic bond issuance, contributing to the nation’s sustainable development and green growth initiatives.

The next training session, focusing on the “Pre-Issuance” stage, is anticipated to take place in December 2023.