On Thursday 18th August 2022, at Ministry of Economy and Finance (MEF), H.E. Dr. Phan Phalla, Secretary of State, Ministry of Economy and Finance on behalf of H.E. Dr. Aun Pornmoniroth, Deputy Prime Minister, Minister of Economy and Finance, and Ms. Preeti Sinha, Executive Secretary, United Nations Capital Development Fund (UNCDF), signed the new Memorandum of Understanding (MoU) at the signing ceremony in order to extend the mutual collaboration between the two parties in reference to the previously signed MoU in 2019.
On the occasion of this MoU signing ceremony, H.E. Dr. Phan Phalla has stated that under “Strategic Framework and Programs for Economic Recovery in the Context of Living with COVID-19 in a New Normal 2021-2023”, the Royal Government of Cambodia (RGC) has taken the supporting measures to implement this policy, including the use of Public-Private Partnerships (PPP) mechanisms. Meanwhile, H.E. Phan Phalla also added that the Law on PPP has been promogulated in November 2021 and then the RGC plans to execute Standard Operating Procedures (SOP) for PPP Projects in the foreseeable future for developing and managing Public-Private Partnerships (PPP) projects. On this basis, the MEF and UNCDF will continue to cooperate for preparing public investment projects to be implemented through PPP mechanism in order to be a part of contribution for Cambodia’s economic recovery. To achieve this goal, H.E. Dr. Phan Phalla proposed relevant line ministries and institutions of the RGC to participate and collaborate for the preparation of potential PPP projects. Lastly, H.E. Dr. Phan Phalla also expressed high appreciation for UNCDF’s kind cooperation during this current context for continuing providing supports for development of public infrastructure in Cambodia.
This MOU has its term of 3 (three) years which will promote and expand the scope of cooperation between both parties (MEF & UNCDF) by focusing on these following areas: (1) support of innovation financing, (2) support of capacity development, (3) support for dissemination of the Law on PPPs and relevant regulations, (4) support for preparation and development of PPP projects, (5) support for preparation and establishment of financial support mechanism for PPP projects.