The Credit Guarantee Corporation of Cambodia (CGCC) has partnered with the Biogas Technology and Information Center (BTIC) to promote the investment of commercial biogas technologies.
The BTIC was jointly established by the Royal University of Agriculture and the UN Industrial Development Organisation (UNIDO). The CGCC is a state-owned enterprise, operated under the technical and financial guidance of the Ministry of Economy and Finance.
Under a memorandum of understanding (MoU) signed on 24 January, the organisations agreed to identify opportunities for collaborative activities and programmes to support biogas technology and investment through appropriate risk-sharing facilities, and bridge knowledge gaps in the biogas value chain among partners and stakeholders.
“The MoU signing with BTIC is a step towards CGCC’s environmental, social and governance strategies to support the growth of the agriculture sector, which is already one of the key priority sectors in Cambodia,” said Wong Keet Loong, CGCC’s CEO.
“This sector is the main source of local employment and income in rural areas. As the agriculture sector is the second-largest source of greenhouse gas emissions, it will cause climate changes such as extended monsoon rainfalls and higher temperatures, which will have negative effects on this sector. Thus, the importance of reducing climate change is critical for the sustainability of the agro-processing and livestock industry.”
CGCC will work with financial institutions that are supportive of providing green financing to support biogas technologies. With technical expertise and support from BTIC in biogas technology, CGCC is committed to working with other stakeholders to promote access to financing clean energy.
BTIC’s director, Lor Lytour, commented: “The MoU will enable all key actors, including BTIC, CGCC and its bank partners as well as other stakeholders to work together closely and more effectively on a number of key priorities to deliver the response to the needs of Cambodia agri-business in uptaking this biogas technology, which is proven as an effective and integrated waste management solution.”