NBC, UN-ESCAP enhance women’s financial literacy
THE National Bank of Cambodia (NBC) and the UN’s Economic and Social Commission for Asia and the Pacific (UN-ESCAP) have affirmed their continued collaboration to enhance women’s financial and entrepreneurial literacy. The effort particularly aims to develop a sustainable financing plan for the country.
The joint commitment was underscored at a meeting between Chea Serey, governor of the central bank, and Armida Salsiah Alisjahbana, undersecretary-general of the UN and executive secretary for UN-ESCAP, during the latter’s official visit to Cambodia, which included a tour of the Preah Srey Icanavarman Museum of Economy and Money (SOSORO).
Alisjahbana emphasised the successful past cooperation between the two institutions, which has significantly strengthened business innovation among Cambodian women, as per the NBC’s social media on January 22.
“The collaboration between UN-ESCAP and the NBC has been immensely beneficial in promoting female entrepreneurs and addressing issues related to climate change, the environment and society,” she was quoted as saying.
She expressed her eagerness
to continue the UN commission’s support for the initiatives undertaken together, particularly under the memorandum of understanding (MoU) on the promotion of sustainable financing in Cambodia.
The MoU, signed in November 2023, aims to assist the government in achieving shared sustainable development goals (SDGs).
Serey expressed gratitude to the commission, and particularly to Alisjahbana, for their direct support in enhancing women’s financial understanding and business initiative.
“In addition to boosting women’s financial literacy, UNESCAP
has also collaborated in formulating a sustainable financing plan in Cambodia. This aligns with the NBC’s strategic focus on contributing to sustainable development, with an emphasis on climate change and societal impacts,” she said.
Serey also discussed the goal of evolving the country’s payment system to bolster economic and tourism activities. This includes facilitating payments, enhancing access to payment services and promoting the use of the national currency, the Khmer riel.
Keo Mom, president of the Cambodia Women Entrepreneurs Association (CWEA), highlighted the importance of financial knowledge for women, noting that support from various stakeholders would inspire greater confidence in women’s business venturing.
“We are aware that over 65 per cent of micro, small and medium enterprises [MSMEs] are owned by women, with 90 per cent managed and operated by them. However, they still encounter numerous challenges related to business and trade,” she said on January 23.
“Therefore, we are appealing for increased support from the government, development partners, civil society organisations, the private sector, investors and other stakeholders in bolstering the economic endeavours of Cambodian women,” she added.
According to Mom, the CWEA has been actively implementing various new and existing programmes in response to the current situation and the needs of its members.
She said the projects include training focused on digital and communication skills, marketing, entrepreneurship and other combined proficiencies.
Mom added that the association is also seeking support from relevant ministries or institutions at the national, regional and global levels, and is participating in promoting and exhibiting products by Cambodian women business developers.