Cambodia has secured a $115 million financing package from the World Bank to strengthen its electricity grid, improve energy efficiency, and support its clean energy transition. This investment aims to help Cambodia transition to a green economy while expanding access to electricity and fostering sustainable growth and job creation.
The financing package consists of a $110 million credit from the World Bank’s International Development Association and a $5 million grant from the Energy Sector Management Assistance Programme (ESMAP). This funding aligns with Cambodia’s goal of achieving 70% renewable energy capacity by 2030 and supports the broader objective of regional grid integration under the ASEAN Power Grid.
Beneficiaries of this project will include electricity consumers, public institutions, industrial enterprises, renewable energy developers, service providers, and energy-efficiency equipment suppliers, contributing to the creation of more employment opportunities within the sector.
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In addition to the World Bank funding, Cambodia is also poised to benefit from a $63.44 million battery storage project approved by the Asian Development Bank (ADB). This project is designed to enhance grid stability and support cross-border power trade with Vietnam, further bolstering Cambodia’s clean energy infrastructure.
Both initiatives are crucial for supporting Cambodia’s climate ambitions and its commitment to reducing greenhouse gas emissions.
Sources
- World Bank Backs Cambodia’s $115-Million Clean Energy Push …
- ADB approves $63.4M funding for Cambodia’s battery storage project
- ADB Approves $63.44 Million for Cambodia Battery Storage Project
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