UKEF is to provide finance for the Kingdom's infrastructure with a view to facilitating exports

On Tuesday, UK Export Finance (UKEF), a United Kingdom government ministerial department and the nation's export credit agency, expressed its willingness to provide financing for Cambodia's infrastructure projects and public services with the aim of attracting investment from the British.

Aun Pornmoniroth (centre), Deputy Prime Minister and Minister of Economy and Finance met with Vomic Nur Shah (fifth right), Head of Origination of UKEF in the presence of Dominic Williams (sixth right), British Ambassador to Cambodia in Phnom Penh, on August 6. MEF

A courtesy visit was paid to Pornmoniroth, Deputy Prime Minister and Minister of MEF, by Vomic Nur Shah, Head of Origination of UKEF, and Dominic Williams, British Ambassador to Cambodia in Phnom Penh.

The UKEF delegation was on a three-day mission from 5-7 August to explore opportunities for strengthening cooperation under the export finance framework in Cambodia.

As outlined in the MEF press release, the objective is to achieve the development goals of transforming Cambodia into a high-income country by 2050.

Mr. Pornmoniroth expressed gratitude for the current cooperation and past relations between the Government of the United Kingdom and the Royal Government of Cambodia (RGC), which have made a significant contribution to the socio-economic development nationwide.

The Deputy Prime Minister also outlined the strategies and measures that the RGC is implementing to reform and diversify its sources of funding for public infrastructure and services as Cambodia prepares to graduate from the least developed countries.

The Head of UKEF commended the efforts of the working groups, which have resulted in the advancement of numerous sectors across the country, particularly the public infrastructure sector, which plays a pivotal role in supporting Cambodia's socio-economic development.

"As part of the International Development Strategy, the UK Government is committed to supporting Cambodia's socio-economic development by promoting investment in infrastructure and public services," he said.

Mr Shah also highlighted that UKEF is exploring export financing opportunities in Cambodia with a view to attracting further investment from the private sector, particularly British investors.

In addition, the two governments are working closely together on the development of a green special economic zone (SEZ). This is a public investment project under a public-private partnership mechanism designed to attract investment and kick-start the project.