Phnom penh: The Cambodia Sustainable Bond Accelerator (CSBA) Programme launched on Aug. 4 its third phase and is now open for applications until Aug. 31, 2025.
According to Agence Kampuchea Presse, the CSBA Programme, which began in early 2023, is a collaborative effort involving the Securities and Exchange Regulator of Cambodia (SERC), United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Global Green Growth Institute (GGGI), with support from Luxembourg's Global Trust Fund on Sustainable Finance Instruments. It also works in collaboration with the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank (ADB), and GuarantCo, part of the Private Infrastructure Development Group. In its third phase, the programme welcomes the Credit Guarantee Corporation of Cambodia (CGCC) as a new partner.
Phase III of the programme invites applications from public and private entities in Cambodia that are interested in technical assistance to issue green, sustainability, or sustainability-linked bonds. Successful applicants will receive comprehensive support, including guidance on issuance planning, capacity building for green sustainability and sustainability-linked bond frameworks, technical assistance for second-party opinion reviews, and enhanced investment support through a network of guarantors, whenever possible.
H.E. Sou Socheat, Delegate of the Royal Government in charge as Director General of SERC, stated that this initiative is designed to unlock financing for projects that address Cambodia's climate priorities, such as renewable energy, clean transportation, smart agriculture, energy efficiency, and green buildings. He emphasized that through Phase III, the aim is to empower more Cambodian issuers to access capital markets and mobilize investments aligned with national climate goals, while also building a sustainable bond ecosystem that supports economic growth and environmental resilience.
Since the programme's inception in 2023, Cambodia's bond market has expanded significantly, growing from just over US$200 million to more than US$400 million by 2025. This growth is attributed to increased investor confidence, active regulatory support, and the CSBA Programme's role in promoting sustainable bond issuances.
The programme has played a key role in increasing market readiness and setting the stage for broader private sector involvement in green and sustainable finance. It has raised awareness, enhanced technical capacity, and supported innovative financing structures that have drawn interest from both local and international investors. To date, the programme has facilitated the issuance of over US$60 million in green bonds by Cambodian companies, with over US$100 million more in the pipeline.