A new banking sector initiative launched yesterday aims to advise banks on best practices for sustainable lending while boosting the Kingdom’s investment reputation.
The Sustainable Finance Initiative—carried out under the management of the Association of Banks in Cambodia (ABC)— will conduct two years of research to identify best practices that can be applied by financial institutions when formulating their lending policies, such as ways to mitigate the damage associated with infrastructure, energy or large scale agribusiness developments.
“The ABC understands that it needs to support sustainable financial principles,” said Charles Vann, Acting Chairman of abc. “We need to create more green-oriented funding through the private sector.”
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