[Khmer Times]: The Cambodia Microfinance Association (CMA) and the state-run Agricultural and Rural Development Bank (ARDB) signed a Memorandum of Understanding (MoU) on Friday to establish a cooperation framework to advance sustainable green financing and climate-related financial services across Cambodia’s banking, microfinance, agricultural, and MSME sectors.

The agreement was signed by Sok Voeun, Chairman of the Board of Directors of CMA, and Chan Seyha, Deputy Chief Executive Officer of ARDB. CMA Board of Directors, ARDB management team and representatives of the National Bank of Cambodia, relevant ministries and development partners were present among others.

The partnership aims to address Cambodia’s vulnerability to climate change and environmental degradation and aligns with the Royal Government of Cambodia’s commitment to sustainable, inclusive, and climate-resilient socio-economic development.

Under the MoU, CMA and ARDB will collaborate on several key initiatives to support Cambodia’s green transition and strengthen climate resilience, including developing green and climate-related financial products and services across financial institutions and exploring and coordinating preferential green credit lines for qualified CMA member financial institutions. Both parties will organise joint training workshops to strengthen CMA member financial institutions’ understanding of Environmental, Social, and Governance (ESG) standards, climate risk management, and green finance opportunities and support micro, small, and medium enterprises (MSMEs), agricultural cooperatives, and smallholder farmers in adopting climate-smart agricultural practices and renewable energy solutions.