PHNOM PENH: The Food and Agriculture Organisation of the United Nations (FAO) said Wednesday that the Green Climate Fund would invest US$42.8 million to help farmers in the northern Tonle Sap region.
In a statement, the UN agency said the project included US$6.6 million in co-financing from the Ministry of Agriculture, Forestry and Fisheries, the Ministry of Environment, and the FAO.
“The project is designed to address the climate and socio-economic vulnerabilities of about 450,000 farmers and other value chain actors by improving their knowledge of climate risks,” it said.
In addition, the project will be “introducing market incentives that promote climate-resilient, higher-value, diversified, and sustainable agricultural production and processing.
“The initiative will also work on strengthening regulatory and institutional frameworks related to climate-resilient agriculture and will foster partnerships for financing and investment support.”
Apart from the Tonle Sap project, the FAO also announced new Green Climate Fund investments in Bolivia and the Philippines.
“These projects in Cambodia, Bolivia, and the Philippines demonstrate how partnerships can deliver innovative climate solutions for some of the world’s most vulnerable countries,” said Yannick Glemarec, executive director of the fund which is based in South Korea.
“Supporting efforts to transition to climate-resilient food and agriculture systems is a key priority,” Glemarec said.