Cambodia, UNCDF Sign MoU on Extension of Bilateral Agreement

The Ministry of Economy and Finance, and the United Nations Capital Development Fund signed here on Thursday a memorandum of understanding (MoU) on the extension of agreement between the two parties.

The MoU was penned by H.E. Phan Phalla, Secretary of State of the Ministry of Economy and Finance and visiting UNCDF Executive Secretary Ms. Preeti Sinha.

According to a statement, the MoU was aimed to extend the existing agreement between the parties on the cooperation on capacity building and financing for the public-private partnership (PPP) mechanism.

The signed MoU, valid for three years, is aimed to enhance and expand the scope of cooperation between the two sides in the past, focusing on support for innovative financing, support for capacity development, support for the dissemination of the Public-Private Partnership Law and related legal documents, support for the development of the PPP project, and support for the establishment of financial support mechanism for PPP projects.

Under the "Strategic Framework and Programmes for Economic Recovery in the Context of Living with the COVID-19 in a New Normal 2021-2023", the Royal Government of Cambodia has set out measures to support the implementation of policy measures, including: Public-Private Partnership (PPP).

The Ministry of Economy and Finance and UNCDF will continue to work together to support the preparation of a list of proposed Public Investment Projects (PPPs) to contribute to the recovery and promotion of the Cambodian economy.

H.E. Phan Phalla requested the relevant ministries and institutions of the Royal Government of Cambodia to participate and cooperate in the preparation of potential public investment project proposals to implement the PPP mechanism.

Source: Agency Kampuchea Press