PHNOM PENH, Aug. 20 (Xinhua) -- Cambodia has established a Green Finance Working Group (GFWG) to mobilize capital and resources for eco-friendly development.
According to a decision signed by Prime Minister Hun Manet and publicized on Thursday, the GFWG will be led by a representative from the National Bank of Cambodia, with a deputy head from the Ministry of Environment. Members will also include officials from various other ministries and institutions.
"The GFWG has roles and responsibilities to lead and coordinate the preparation and implementation of policies, strategies, and priority work directions for the development and mobilization of green finance in Cambodia," the prime minister said.
He added that the group will develop necessary support mechanisms and related frameworks to build a robust ecosystem for green finance. Furthermore, the GFWG is tasked with promoting research, training, and knowledge dissemination to keep pace with new development trends.
To foster green finance in the Southeast Asian country, the group will coordinate and strengthen cooperation with relevant ministries, local institutions, and development partners.
The GFWG "will be obliged to promote and support the development of green financial projects and instruments to support sustainable development," Hun Manet said. ■