WASHINGTON, October 16, 2024 - The new Country Partnership Framework (CPF) for Cambodia for 2025-2029 seeks to address three interlinked goals: improving health and basic education, enhancing competitiveness, and strengthening the resilience of vulnerable households.
The CPF was discussed by the World Bank Group on Tuesday. An updated gender action plan will provide the basis for addressing gender gaps in the transition to secondary education and promote better gender data. The CPF will also focus on building accountability into service delivery projects, enhancing public sector fiduciary standards, and continuing to provide oversight and advice on grievance redress mechanisms.
The CPF outlines priorities for the World Bank Group program of support in Cambodia over the next five years. It is based on an analysis of the country's development challenges, the Royal Government of Cambodia's development strategy, and consultations with a broad range of stakeholders.
"A key focus of our engagement is to improve human capital, especially basic education and foundational skills" said Mariam Sherman, World Bank Country Director for Cambodia, the Lao PDR, and Viet Nam. "The new program will emphasize poverty reduction by boosting investments in health and education, helping to create jobs, protecting the livelihoods of vulnerable households and strengthening resilience to climate change."
Over the next five years, three arms of the World Bank Group-the International Development Agency (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA)-will encourage investment in Cambodia and promote public-private partnerships, especially in infrastructure.
IFC and the World Bank Group are fostering a robust and competitive private sector in Cambodia," said Kim-See Lim, IFC Regional Director for East Asia and the Pacific. "We will continue our support to strengthen financial consumer protection and responsible lending practices, catalyze green finance markets, and help Cambodia attract private capital to infrastructure sectors such as energy and transport, particularly through public-private partnerships."
