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Secretary of State at the Ministry of Women’s Affairs H.E. Mrs. Kheng Samvada shared the optimism in a recent interview with AKP.
According to the secretary of state, 25 years since its foundation, ASEM has never held such a platform. It took so much time and effort to liaise and convince especially the ASEM Secretariat, 51 partner countries, and two institutional partners (the EU and ASEAN Secretariat) to include the Forum on Women, Peace and Security as a side event of ASEM13 and the next ones, and Cambodia made the historic move.
She continued that for Cambodian women who had experienced wars, peace is priceless, and without peace there is no development; that was why Cambodia proposed “Women, Peace and Security” as the theme of the first ASEM women’s forum.
Through the forum, she added, Cambodian women will be able to share what they have done to promote women and gender equality at large particularly in the leadership role and at international arenas, and to learn from other countries.
The forum, being held on Oct. 13-14 via videoconference, is expected to serve as a networking opportunity for Cambodian women to further support each other toward collective progress.
Other side events of the ASEM13 include the 11th Asia-Europe Parliamentary Partnership Meeting (ASEP11), the Asia-Europe Cultural Festival, the 1st Asia-Europe Economic and Business Forum (AEEBF1), the ASEF Young Leaders Summit, and the 10th ASEF Editors’ Roundtable (ASEFERT10).
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The meeting took place on Oct. 12 via a videoconference under the chairmanship of H.E. Huang Runqiu, Minister of Ecology and Environment of the People’s Republic of China (PRC).
The participating Cambodian delegation was represented by H.E. Say Samal, Minister of Environment.
Organised by PRC in collaboration with the UN-CBD’s secretariat, the meeting aimed to ensure political support among leaders in the world for the preparation of the global biological framework after 2020 (Post-2020 GBF), and to examine the Kunming Declaration.
Participating delegations agreed to promote effective implementation of the Post-2020 GBF to achieve the UN Sustainable Development Goals 2030 and Nature Outlook 2050 for humans to live harmoniously and sustainably with nature.
They also discussed key topics including biological resources restoration, biodiversity financing, biodiversity conservation and sustainable development, and related knowledge sharing.
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The meetings focused on the implementation of measures related to Kuala Lumpur Transport Strategic Plan (KLTSP), sustainable transport under the KLTSP, TFWG Working Plan 2020-2021 and 2022-2023, ASEAN Trade Facilitation Joint Consultative Committee (ATF-JCC), transport cooperation with discussion partners and international organisations, and cooperation with private sector.
The meetings also discussed the implementation of ASEAN Transport Facilitation Agreement, the report on the 41st ASEAN-TFWG, and many other progress reports related to transports, customs, insurance, sanitary and phytosanitary issue, and exchange of dangerous goods in transit.
The three-day meetings were chaired by Mr. Kong Sophal, Deputy Director General of Land Transport General Department at the Ministry of Public Works and Transport (MPWT), and rotating Chairman of ASEAN-TFWG.
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The grant is part of the project to accelerate the implementation of the Sustainable Assets for Agriculture Markets, Business and Trade (SAAMBAT), according to recent press release.
SAAMBAT is a €105 million (approximately US$120 million) partnership investment made by the International Fund for Agricultural Development (IFAD), the EIB and the Royal Government of Cambodia.
It is designed to improve living standards and the ease of doing business for some 200,000 rural Cambodian families by creating a reliable and safer road network year-round, better rural infrastructure and a reliable food supply.
The SAAMBAT project will finance improvements in road infrastructure, road safety and the country’s resilience to natural hazards, and support the development of key rural infrastructure such as local markets. These are vital for Cambodia, where two-thirds of all rural households face seasonal food shortages every year due to underdeveloped infrastructure.
The project will also create up to 4,500 jobs and 500 new small and medium-sized enterprises, and train 25,000 Cambodians to use digital technologies to improve their businesses and increase trade.
With Team Europe and IFAD investments and grants, and funds from the Royal Government, Cambodia will build some 650 kilometres of paved road and 150 kilometres of gravel road, and improve 50 rural market areas and about 25 other value chain logistics facilities.
H.E. Hem Vanndy, Secretary of State, Ministry of Economy and Finance of the Kingdom of Cambodia said the grant resources are an important contribution to the rapid and sustainable development of rural communities in Cambodia and to the green recovery from the global COVID-19 pandemic.
Head of Cooperation at the EU Delegation to Cambodia Bryan Fornari said that with 105 million Euro of investment in Cambodia, SAAMBAT will help farmers and rural families to have better access to markets, supporting the growth of SMEs in the agriculture sector.
“This will contribute to the growth of rural economy and create new job opportunities in Cambodia’s countryside. Through our work with European Investment Bank, this project brings the spirit of Team Europe to our partnership with the Royal Government of Cambodia, together with IFAD,” he said.
The project will be financed by a US$53.3 million loan and a US$1.2 million grant from IFAD, a €65.2 million loan from the EIB and a US$12.41 million contribution from the Royal Government of Cambodia.
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“The battle against climate change will be won or lost in Asia and the Pacific,” said ADB President Masatsugu Asakawa. “The climate crisis is worsening daily, prompting many to call for increased climate finance. We are taking action to meet this call by elevating our ambition to US$100 billion in cumulative climate finance from our own resources by 2030.”
According to its press release this morning, in 2018, ADB committed to ensuring at least 75 percent of the total number of its operations support climate action and its own climate finance resources reach at least a cumulative US$80 billion by 2030. Today’s announcement elevates the ambition of this financing.
ADB expects the cumulative climate financing from its own resources in 2019–2021 to reach about US$17 billion.
The expanded climate finance ambition is a key element of ADB’s efforts to support its DMCs. Facing the interconnected challenges of the coronavirus disease (COVID-19) pandemic and the climate crisis, many DMCs are taking bold action to promote a green, resilient, and inclusive recovery.
The additional US$20 billion will provide support for the climate agenda in five main areas:
First, new avenues for climate mitigation, including energy storage, energy efficiency, and low-carbon transport. ADB expects its cumulative climate mitigation finance to reach US$66 billion.
Second, a scale-up of transformative adaptation projects. Projects in climate-sensitive sectors, such as urban, agriculture, and water, will be designed with a primary purpose of effective climate adaptation and enhanced resilience. ADB expects its cumulative adaptation finance to reach US$34 billion.
Third, an increase in climate finance in ADB’s private sector operations. This includes creating more commercially viable projects for both ADB and private investors. The expansion will be underpinned by improvements in operational efficiencies, a post-pandemic recovery in market demand for financing, new technologies and innovations in climate financing, and new areas of business for private sector climate operations. ADB intends to support these initiatives with US$12 billion in cumulative private sector climate finance from its own resources and anticipated crowding in of an additional US$18 billion to US$30 billion.
Fourth, support for a green, resilient, and inclusive recovery from COVID-19, including through innovative financing platforms such as the ASEAN Catalytic Green Finance Facility and Green Recovery Platform, which are expected to leverage funds from capital markets and private sector investors for low-carbon infrastructure.
Fifth, support to advance reforms in DMCs to unlock actions through policy-based lending to support policies and institutions for enhanced climate resilience and climate mitigation.
Across these areas, ADB will continue to expand access to new, climate-focused technologies and mobilise private capital toward climate finance.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members 49 from the region.
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According to the Premier, the National Disaster Management Day is celebrated on Oct. 13 every year. The Royal Government has decided to observe the event along with the ASEAN Day for Disaster Management and the International Day for Disaster Reduction. This year is the second year of the celebration, but as the situation of COVID-19 has not yet improved, it is not possible to hold public gatherings and organise public awareness campaign on disaster reduction.
For almost two years, he continued, while the global COVID-19 pandemic has not yet eased, natural disasters caused by global warming, including wildfires, hurricanes, severe floods, earthquakes happened in many countries in 2021, destroying property and claiming many lives.
In particular, in Cambodia, COVID-19 and its new variants, gusts, flash floods, lightning, drought, fire and so on have occurred throughout the country, he said, stressing that the Royal Government has introduced a series of measures to minimise the impact and protect the well-being of the Cambodian people.
This year’s theme is “Increasing Disaster Risk Preparedness for the Safety and Resilience of Villages and Communes,” which inspires the spirit of preparedness enhancement in the face of adverse events. Samdech Techo Hun Sen thus appealed to all stakeholders to be well prepared to respond to disasters.
The Prime Minister gave seven important recommendations to ensure the success in disaster risk reduction, of which one focuses on the vaccination against COVID-19 to create herd immunity and continued implementation of the prevention principles and health rules ‘3 Don’ts and 3 Dos’ even after being vaccinated against the pandemic.
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25 newly infected patients are imported cases. The other 247 are patients involved in February 20 community event.
To date, Cambodia has confirmed 115,607 cases of COVID19 with 109,296 recoveries and 2,559 deaths.
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In its World Economic Outlook released in Washington Tuesday, the IMF projected GDP growth at 6.9 percent for Vietnam, 6.6 percent for Cambodia and 6.5 percent for the Philippines in 2026.
Among other emerging and developing ASEAN economies, the IMF projected growth rates of 5.8 percent for Laos, 5.2 percent for Indonesia, 5.O percent for Malaysia, 3.6 percent for Thailand, 2.5 percent for Myanmar and 2.1 percent for Brunei.
In the shorter term, Cambodia is expected to be among the top five ASEAN economies in terms of growth in 2022 with GDP forecast to expand by 5.7 percent.
That compares with 6.6 percent in Vietnam, 6.3 percent in the Philippines, 6.0 percent in Malaysia and 5.9 percent in Indonesia.
Growth is projected to be slower at 4.5 percent in Thailand, 4.2 percent in Laos, 3.2 percent in Singapore and 2.6 percent in Brunei whereas GDP is forecast to shrink by 0.1 percent in Myanmar.
For the current year, the IMF forecast Cambodia’s GDP growth at 1.9 percent, reversing a contraction of 3.1 percent last year.
Singapore is expected to be the fastest growing economy in Southeast Asia this year with GDP expanding by 6.0 percent after shrinking 5.4 percent last year.
Among other ASEAN economies, the IMF forecast growth rates of 3.8 percent for Vietnam, 3.5 percent for Malaysia, 3.2 percent for both Indonesia and the Philippines, 2.1 percent for Laos, 2.0 percent in Brunei and 1.0 percent in Thailand.
In Myanmar, however, the economy is forecast to suffer a double-digit decline this year with a steep contraction of 17.9 percent.
Elsewhere in Asia, the IMF forecast growth rates of 8.0 percent for China, 6.4 percent for Hong Kong, 5.9 percent for Taiwan, 4.3 percent for South Korea and 2.4 percent for Japan in 2021.
The overall world economy is forecast to expand by 5.9 percent this year after shrinking 3.1 percent last year. Growth is forecast at 6.0 percent in the United States and 5.0 percent in the Euro Area.
IMF Economic Counsellor Gita Gopinath said the global recovery was continuing. “But momentum has weakened, hobbled by the pandemic,” she said. “Outbreaks in critical links of global supply chains have resulted in longer than expected supply disruptions, feeding inflation in many countries.
“Overall, risks to economic prospects have increased and policy trade-offs have become more complex,” she added.
In most countries, “pandemic-related disruptions to contact-intensive sectors have caused the labour market recovery to significantly lag the output recovery,” Gopinath said.
At the same time, “the dangerous divergence in economic prospects across countries remains a major concern.”
Gopinath, who heads the IMF’s research department, said supply disruptions in the manufacturing sector were another concern.
“On the one hand, pandemic outbreaks and climate disruptions have resulted in shortages of key inputs and lowered manufacturing activity in several countries.
“On the other hand, these supply shortages, alongside the release of pent-up demand and the rebound in commodity prices, have caused consumer price inflation to increase rapidly,” she said.
Gopinath meanwhile called for efforts to avoid “policy accidents” — ranging from a failure to lift the U.S. debt ceiling in a timely fashion to disorderly debt restructurings in China’s property sector to escalating cross-border trade and technology tensions.
“Clarity and consistent actions can go a long way toward avoiding unnecessary policy accidents that roil financial markets and set back the global recovery,” she said.
“Recent developments have made it abundantly clear that we are all in this together and the pandemic is not over anywhere until it is over everywhere.
“If COVID-19 were to have a prolonged impact — into the medium-term — it could reduce global GDP by a cumulative US$5.3 trillion over the next five years relative to our current projection.
“It does not have to be this way. The global community must step up efforts to ensure equitable vaccine access for every country, overcome vaccine hesitancy where there is adequate supply, and secure better economic prospects for all.”
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The appreciation was made by H.E. Andreas Zurbrugg, new Deputy Head of Mission of the Embassy of Australia to Cambodia in a recent meeting with Deputy Prime Minister and Minister of National Assembly-Senate Relations and Inspection H.E. Mrs. Men Sam An.
H.E. Andreas Zurbrugg informed H.E. Mrs. Men Sam An that he had arrived in the Kingdom for three months, and his mission here is to be a collaboration coordinator between Cambodia and Australia, especially when Cambodia is preparing for the hosting of big international events for 2021-2022, like the 13th Asia-Europe Summit (ASEM13) and ASEAN Summits.
From her end, H.E. Mrs. Men Sam An told H.E. Andreas Zurbrugg that the Royal Government of Cambodia is very committed to inoculate COVID-19 vaccines to the targeted groups without any discrimination.
She warmly welcomed H.E. Andreas Zurbrugg for his mission in Cambodia, particularly to further enhance bilateral cooperation between the two countries.
Australia has committed the cash assistance of about US$35 million for a project in countries across the region including Cambodia through the Ministry of Health, UNICEF, and WHO.
This project focuses not only on vaccine purchase, but also on technical procurement and medical training for concerned staff to maintain the vaccine quality.
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In the meeting, the IMF resident representative expressed thanks to NBC for its support and facilitation for the IMF’s Article 4 Consultation Mission in Cambodia which completed successfully in early September.
The assessment results show the IMF’s optimism over the Cambodian economic recovery and lauded the measures taken by the Royal Government of Cambodia in combating COVID-19 as well as the measures set forth by the NBC to contribute to the economic growth and burden alleviation for traders and the poor affected by COVID-19 crisis, he stressed.
For his part, H.E. Chea Chanto thanked the Article IV Consultation Mission team and the IMF for their key recommendations in carrying out different measures for economic development and response to the pandemic crisis.
H.E. Governor spoke highly of the presence of IMF’s representative office in Cambodia, which has played a significant role in coordinating technical assistance and building staff’s capacity.
