Phnom Penh, Cambodia – December 19-20, 2016 – The Global Green Growth Institute’s (GGGI) Director-General, Dr. Frank Rijsberman, met with high-level government officials at the GGGI office in Cambodia to discuss the strategic direction for GGGI’s vision of Green Growth in Cambodia.
Dr. Rijsberman met with H.E. Dr. Eang Sophalleth, Under Secretary of State of the Ministry of Environment, together with representatives of the Royal Government of Cambodia’s (RGC) National Council for Sustainable Development (NCSD), to discuss Cambodia’s green growth potential and challenges, particularly related to green city development. Discussions included key strategic objectives for Cambodia to address sustainable growth challenges.
H.E. Dr. Sophalleth praised GGGI’s strategy and approach in Cambodia, noting preparations for the Green City Strategic Plan for Phnom Penh and the pipeline of 48 green city investment projects. H.E. Dr. Sophalleth and Dr. Rijsberman agreed on the need to prioritize three projects: decentralized wastewater treatment; development of a pilot fund for energy efficiency for SMEs, and the development of a large solar PV project in Kep.
GGGI utilizes National Finance Vehicles (NFVs), similar to the Cambodian Ministry of Environment’s recently established Social and Environment Fund, to mobilize investments for green growth around the world. GGGI assists its Member countries in accessing domestic and international climate finance by building NFVs and a pipeline of bankable projects. Additionally, GGGI recognizes the important role of the Green Climate Fund (GCF) and supports countries to develop GCF proposals and achieve GCF accreditation. Currently, the RGC is working to become accredited as a National Implementing Entity.
To further enhance green investments, on December 20, GGGI and NCSD co-organized a consultative workshop on the development of a pilot fund for energy efficiency for small and medium-sized entrepreneurs (SMEs). The proposed pilot fund is the first green city investment project of the 48 projects in the pipeline. Through the creation of a guarantee mechanism, this fund aims to increase access to finance for SMEs to invest in energy efficiency in garment manufacturing, brick manufacturing, rice mills, and hotels.
Dr. Rijsberman’s visit contributed to strengthening the commitment and collaboration between the RGC and GGGI for implementing a green growth agenda, particularly in the areas of green secondary cities and national planning for green growth. GGGI and NCSD will undertake a joint technical mission to Kep to scope the bankable solar project in early 2017 and will continue to work on the development and financing of priority green city projects for Phnom Penh. GGGI will also support a range of secondary cities in Cambodia with green city development planning in 2017.
About the Global Green Growth Institute (GGGI)
Based in Seoul, GGGI is an intergovernmental organization founded to support and promote green growth. The organization partners with countries to help them build economies that grow strongly, are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. To learn more about GGGI, see https://www.gggi.org and visit us on Facebook and Twitter.
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