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Worldbridge, UNDP and UNIDO ink MoU to bolster development efforts

Content image - Phnom Penh Post
A groundbreaking ceremony takes place for a government-endorsed affordable housing project in Kandal province last year.

Worldbridge, UNDP and UNIDO ink MoU to bolster development efforts

Worldbridge International, the United Nations Development Program (UNDP) and the United Nations Industrial Development Organisation (Unido) on Friday signed a memorandum of understanding (MoU) for three projects based on affordable housing, green logistics and connectivity for small- and medium-sized enterprises (SMEs).

Through the MoU, UNDP will provide support for advancements in solar power, waste management, public transportation, driver training, road safety, and market education for entrepreneurs.

Of these projects, Unido will provide support for those involving SMEs, according to Worldbridge general manager Sothirith Yuk.

2030 development goals

Worldbridge chairman Sear Rithy said the MoU will contribute significantly to improving the quality of life in the Kingdom by introducing affordable and comfortable living spaces as well as safe transportation systems and new business techniques.

“The development and growth of Cambodia’s economy must be sustainable and provide a positive impact on society,” he said.

UNDP country director for Cambodia Nick Beresford said the agreement is a reflection of a public-private partnership to drive sustainable investments in key areas that have an influence on society and the economy.

“This partnership is an important step to achieve sustainable development goals by 2030,” he said.

SMEs in Cambodia often face problems such as lack of market information, use of technology, human resources and the high cost of electricity.

Hence, Unido Cambodia representative Sok Narin said through the cooperation, the organisation will be able to work closely with the private sector to develop SMEs in the Kingdom and help them achieve sustainable growth.

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