World Bank authorizes USD145M credit to bolster water security in Cambodia
Date
6/24/2024 5:27:41 AM
(MENAFN) The World bank has authorized a USD145 million credit to bolster water security in Cambodia through the Cambodia Water Security Improvement Project, as announced in a news release on Saturday. This initiative aims to enhance water security, elevate agricultural productivity, and fortify resilience against climate-related risks across the country, benefiting an estimated 113,000 individuals.
According to the release, Cambodia faces challenges in water supply due to seasonal and regional variations in rainfall, exacerbated by climate change projections indicating heightened frequency and severity of floods and droughts. These factors pose significant threats to agricultural output and economic stability.
Maryam Salim, World Bank Country Manager for Cambodia, emphasized the project's strategic role in advancing sustainable water management and enhancing agricultural yields. She highlighted the importance of investing in climate resilience, infrastructure, and planning to meet the immediate water needs of Cambodian households and farmers while laying a foundation for long-term water service sustainability.
Managed jointly by Cambodia's Ministry of Water Resources and Meteorology and the Ministry of Agriculture, Forestry, and Fisheries, the project spans five years. Key initiatives include expanding hydrometeorological stations, updating policies and regulations, developing climate-informed river basin management plans, and strengthening the operational capabilities of central and provincial water authorities.
The endeavor underscores the World Bank's commitment to supporting Cambodia in mitigating water-related challenges and fostering inclusive economic growth. By bolstering water resource management and climate adaptation strategies, the project seeks to safeguard livelihoods, enhance agricultural resilience, and promote sustainable development across the nation.
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