Cambodia Investment Review
In a significant stride towards environmental conservation and sustainable development, the United Kingdom and Cambodia formalised their cooperation on the UK’s Biodiverse Landscapes Fund (BLF) on June 15, 2023. The pivotal Memorandum of Understanding (MoU) was signed by Mr. Marc Thayre, Chargé d’ Affaires of the British Embassy Phnom Penh, and His Excellency Chea Samang, Secretary of State of the Cambodian Ministry of Environment.
The BLF, a programme engineered by the UK’s Department for Environment, Food, and Rural Affairs (Defra), is designed to address the tripartite crisis of poverty, biodiversity loss, and climate change. Operating in six ecologically significant landscapes around the globe, the initiative serves the dual purpose of poverty alleviation and biodiversity preservation while also addressing the triggers and effects of climate change.
Increasing resilience to climate change
“The impacts of climate change do not respect borders, and strong partnerships are essential to protecting the environment,” said Mr. Thayre, expressing delight at the collaboration between the UK and Cambodia. The Chargé d’ Affaires also emphasised that the BLF will play a crucial role in strengthening biodiversity conservation, reducing poverty, and increasing resilience to climate change among local communities.
The Lower Mekong region, known for its unique biodiversity and importance as a carbon sink, is one of the targeted landscapes for the BLF’s intervention. Encompassing the Annamites mountain range that extends through Cambodia, Laos, and Vietnam, the region forms part of the Greater Mekong Subregion – one of the world’s top ten biodiversity hotspots, as well as one of the top five most endangered areas.
His Excellency Chea Samang affirmed the necessity of the initiative, saying, “Improved livelihood of the local community is one of the top priorities of the Royal Government of Cambodia while sustaining biodiversity and natural resources for the generations to come. The Ministry of Environment is pleased to have a formal partnership with the UK through DEFRA in implementing the BLF in Cambodia.”
Up to £15 million in the Lower Mekong landscape
Between 2023 and 2029, the UK has pledged to invest up to £15 million in the Lower Mekong landscape, which also includes parts of Laos and Vietnam. The principal aim of the BLF in the Lower Mekong is to reduce poverty and foster sustainable economic opportunities for communities dwelling in these environmentally critical landscapes, through various measures such as landscape protection, sustainable management and restoration, biodiversity safeguarding, and ecosystem quality improvement.
The implementation of the BLF is slated to begin later this year, undertaken by a consortium of delivery partners in close cooperation with the Royal Government of Cambodia. As an Official Development Assistance (ODA) fund, the BLF reflects the UK’s unwavering commitment to international development. This recent MoU represents yet another step in the UK’s continued effort to deepen partnerships in the Indo-Pacific region.
