Phnom Penh, 29 June, 2017 – The United Nations Development Programme (UNDP) and the Phnom Penh SEZ Plc. signed a Memorandum of Understanding (MOU) today.
The MOU between UNDP and Phnom Penh SEZ Plc serves as the very first agreement under the new United Nations Social Impact Fund (UNSIF) on the establishment of partnerships between UNDP and social impact investors in the country to ensure the achievement of the Sustainable Development Goals (SDGs) by 2030.
The United Nations Social Impact Fund (UNSIF) is a unique blended financing model where innovators, entrepreneurs, donors, philanthropists, public and private sector investors can identify and finance SDG-aligned investment projects that create both economic and social returns.
The agreement was signed by Lok Chumteav Okhna Lim Chhiv Ho, Chairwoman of Phnom Penh SEZ Plc and Ms. Claire Van de Vaeren, UNDP Resident Representative.
The partnership between UNDP and Phnom Penh SEZ Plc aims at demonstrating how Special Economic Zones (SEZs) can contribute to the success of the SDG8 (Decent Work and Economic Growth) and SDG12 (Responsible Consumption and Production) in particular. The SEZs can potentially serve to promote sustainable and inclusive economic growth, full and productive employment and decent work for all, and to contribute to sustainable consumption and production patterns.
Through UNSIF’s financial support, UNDP will work with Phnom Penh SEZ Plc to enhance the social development impact of SEZs in various areas of activity ranging from promoting equality, affordable housing, safe and healthy work conditions, and protecting the environment.
UNSIF will also support Phnom Penh SEZ Plc to facilitate capital market and blended financing that focuses on ‘smart’ SEZ development that is sustainable and inclusive.