Facing that urgency to take actions against the devastating climate crisis, KDB has been committed to support Cambodia’s first institutional green transition move in alignment with the Paris climate accord. The funding proposal tentatively entitled “Cambodian Climate Financing Facility (CCFF)” has been designed to support Cambodia’s low-emission and climate resilient development pathways through climate responsive transformation of the national financial system with leveraging public and private sector capital at scale. With an ambitious goal to achieve a paradigm shifting change across the climate vulnerable country, the CCFF programme aims to transform the country’s state-owned bank – i.e., Agricultural and Rural Development Bank (ARDB) – into the very first green development bank. The programme consists of two facilities overall to fulfill such an ambitious, significant purpose for Cambodia’s green leap, and to accelerate the climate vulnerable country’s Nationally Determined Contribution (NDC) implementation and post-pandemic recovery with a climate focus. 

At this juncture, the GCF Secretariat’s readiness and preparation support is required for the programme’s fitness into the sophisticated devised IRMF and its strict requirements, which will help the programme’s effective implementation along with properly designed monitoring, evaluation, and reporting mechanisms.