Phnom Penh, 31 May 2018: PRASAC, the leading financial institution in Cambodia, and the Global Climate Partnership Fund (GCPF) had organized a conference on “Green Lending and Green Growth in Cambodia” on 24 May 2018 at Phnom Penh hotel in Cambodia. The aim of the conference is to create a platform for a multi-stakeholders discussion, showcase and learning on green lending in Cambodia.
The event was presided over by the representative of Ministry of Environment, and participated by financial institutions, international financiers, local and international NGOs, international development partners, renewable energy/energy efficiency technology providers, business associations, and small and medium-sized enterprises (SMEs).
Climate change is one of the critical topics in the world. Cambodia is also a vulnerable country to climate change and disaster risks due to low adaptation capacity and high dependence on water resources and agriculture mainly rice and crop production. With this remark, the Royal Government of Cambodia has affirmed its constitutional obligation to build a prosperous nation along with long-term growth, sustainable development, enhanced livelihood of people and reduced poverty incidence with committed to environmental protection.
Seeing the importance of environment, natural resource sustainability and align with the rectangular strategy of the Royal Government of Cambodia, PRASAC has been strengthening its capacity towards the environmental and social protection through its lending activities and operations. PRASAC has partnered with the National Biodigester Program (NBP) of Ministry of Agriculture, Forestry and Fisheries since 2007 to provide the biogas loan to rural farmers in Cambodia. And in the year of 2016, PRASAC has got the technical assistance and loan from GCPF to enhance its loan products to tailor the energy efficiency products.
As of 31 December 2017, PRASAC has offered loan to build 8,411 biogas plants with amount of more than USD 5 million; and provided the efficient tractor and power tiller loan to 529 borrowers with loan portfolio of more than USD 7 million. PRASAC is able to participate in reducing the carbon dioxide emissions of 1,500 tons per year or equivalent to 429,700 litres of diesel per year.
The institution has actively committed in providing and developing more green financing to the rural people for their livelihood improvement and environmental protection.
About Global Climate Partnership Fund (GCPF) (responsAbility Investments AG)
The Global Climate Partnership Fund (GCPF) is an innovative public-private partnership dedicated to mitigating climate change through a reduction of greenhouse gas emissions in emerging and developing markets. It focuses on financing energy efficiency and renewable energy projects, directly and in cooperation with local financial institutions, thereby creating a positive impact on the local environment and economy. The Global Climate Partnership Fund is a Luxembourg-based fund managed by the Swiss asset manager responsAbility Investments AG, the world’s leading private asset manager in the field of development investments. For any inquiry:
PRASAC has license of microfinance deposit taking institution and provides financial services to the target clients such as loans, deposits, water bill payment, electricity bill payment, goods and service bill payment, transfer, money exchange, phone top-up, payroll service, fast payment, ATM, POS, Mobile Banking, and Internet Banking throughout Cambodia. For any inquiry: www.prasac.com.kh