PHNOM PENH, Cambodia – The National Bank of Cambodia (NBC) and the United Nations Development Programme (UNDP) in Cambodia formalized a critical partnership by signing a Memorandum of Understanding (MoU) on December 9, 2025.

The signing ceremony took place at the Preah Srey Içanavarman Museum (SOSORO), witnessed by H.E. Dr. Chea Serey, Governor of the NBC, and Ms. Kanni Wignaraja, UN Assistant Secretary-General and UNDP Regional Director for Asia and the Pacific.

This strategic MoU aims to significantly strengthen collaboration across three high-priority areas: financial inclusion, sustainable finance, and digital financial transformation in Cambodia.

I. Strengthening Financial Inclusion and the National Currency

Promoting Khmer Riel Use and Financial Literacy

Under this partnership, the NBC and UNDP will actively cooperate on initiatives designed to promote the Khmer Riel (KHR) and enhance financial knowledge:

• Wider KHR Use: The program will encourage the wider use of the Khmer Riel through a phased approach involving KHR-based wage payments.
• Financial Literacy: Joint initiatives will increase financial literacy across the population, ensuring more citizens understand and use formal financial services.

II. Advancing Green and Sustainable Finance

Developing Cambodia’s Sustainable Finance Taxonomy

A key component of the collaboration involves tackling climate change through finance. The partners will work to advance climate and sustainable finance by:

• National Taxonomy: Developing and implementing a national sustainable finance taxonomy. This framework will define and classify investments that contribute to environmental and social goals.
• ESG Integration: Establishing robust Environmental, Social, and Governance (ESG) frameworks to guide financial institutions in making responsible investment decisions.

III. Digital Transformation for MSMEs

Universal Trusted Credentials (UTC) for Credit Access

The most transformative digital initiative is the operationalization of the Universal Trusted Credentials (UTC) platform: .

• Verified Digital Profile: The UTC platform will create a verified digital profile of enterprises using authoritative, official data.
• Efficient Credit Assessment: This system helps financial institutions assess creditworthiness more efficiently, thereby streamlining the loan application process.
• Affordable Financing: Ultimately, the UTC platform seeks to improve access to affordable financing for Micro, Small, and Medium-sized Enterprises (MSMEs), boosting their growth and contribution to the national economy.

Following the event, the delegation visited the SOSORO museum, exploring Cambodia’s rich economic and monetary history.

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The Securities and Exchange Regulator (SERC) teamed up with the UN (ESCAP), the Global Green Growth Institute (GGGI), and a couple of guarantee funds (CGIF and CGCC) to host the event at the Hyatt Regency. All the big players, including the SERC’s Director General H.E. Sou Socheat, were there to lead the charge.

The Problem We’re Facing

The main reason for the meeting is a serious one: Cambodia is already dealing with major climate change problems, even though we don’t contribute much to global pollution. The experts estimate that if we don’t invest enough in protecting the country, climate impacts could shrink Cambodia’s entire GDP by nearly 10% by 2050! That’s a huge deal.

The government is trying to fix this by setting ambitious goals, like cutting greenhouse gas emissions by over 41% by 2030 and aiming for net-zero carbon by 2050.

The Goal of the Roundtable

Achieving those huge climate goals is going to cost a ton of money—money that has to come from the private sector. The current issue is that many great “green” projects can’t find investors or banks willing to fund them.

That’s exactly why they held this roundtable: to close that investment gap. The goal was to connect developers who have these awesome green and social projects directly with investors and financial institutions.

H.E. Sou Socheat from the SERC promised the government is serious about this. He said, “We share a commitment with our investors to make sure projects are trustworthy, up to international standards, and won’t commit ‘greenwashing’” (that’s when a company pretends to be more green than it really is). He wants the capital market to be transparent so investors can put their money into climate projects with confidence.

What’s Next?

Ms. Deanna Morris from ESCAP said this meeting grew out of a report they wrote, and she believes this is just the beginning. She hopes it will grow into an annual platform where hundreds of people meet, real deals are shaped, and money flows into projects that actually help the climate.

Ms. Nathalie André from GGGI added that transparency and following international “green” standards are vital, especially to attract outside investors. She thinks the new Green Bond framework is a great way to unlock serious international financing, which will help Cambodia meet its climate targets and grow its economy.

The event even included a “Green Finance Pitch Session” where companies presented their ready-to-go green projects to investors—a little bit like an eco-friendly Shark Tank!

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