PHNOM PENH, Aug. 19 (Xinhua) -- The United Nations Capital Development Fund (UNCDF) has signed a Memorandum of Understanding (MoU) to support the Cambodian Ministry of Economy and Finance (MEF) in innovation financing, capacity development, promotion of the Law on Public-Private Partnership, said a ministry's press statement on Friday.
The three-year MoU was inked in Phnom Penh on Thursday between UNCDF Executive Secretary Preeti Sinha and the MEF's secretary of state Phan Phalla, the statement said, adding that it was supplementary to the existing memorandum signed in 2019.
Phalla said the Public-Private Partnership is crucial to support the Cambodian government in implementing the strategic framework and programs for economic recovery for 2021-2023, which was launched in December last year.
He said the Law on Public-Private Partnership was promogulated in November 2021 and the government has planned to put into use standard operating procedures for developing and managing Public-Private Partnership projects in the foreseeable future.
"On this basis, the MEF and UNCDF will continue to cooperate on supporting the preparation of public investment projects through the Public-Private Partnership mechanism in order to contribute to economic recovery in Cambodia," he said.
Phalla also expressed his appreciation to the UNCDF for continuing to support Cambodia for public infrastructure development and capacity building for public investment projects through the Public-Private Partnership. ■
