A press release from the Securities and Exchange Commission of Cambodia (SECC) has confirmed that the three companies selected for 2024 issuances under the CSBA program are energy firm Schneitec Dynamic Co., Ltd., along with two financiers, namely LOLC (Cambodia) Plc and Wing (Cambodia) Plc.
Thematic bond issuances in 2024 and early 2025, under the Cambodia Sustainable Bond Accelerator (CSBA) Program, will support beneficial investments across the Kingdom, including renewable energy expansion.
The latest issuance has confirmed a total aggregate investment requirement of $140 million for projects undertaken in 2024 and 2025. These bond issuances will be used to support investment projects with significant environmental and socioeconomic benefits across Cambodia, according to representatives of the programme.
Now in its second year, the Cambodia Sustainable Bond Accelerator (CSBA) Program is a collaboration between SERC, the South Korean-based Global Green Growth Institute (GGGI), and the United Nation’s Economic and Social Commission for Asia and the Pacific (ESCAP).
The programme is also supported by the Credit Guarantee and Investment Facility (CGIF), a fund of the Asian Development Bank (ADB); and GuarantCo, which is part of the London-headquartered Private Infrastructure Development Group (PIDG).
First pioneered by partners in February 2023, the CSBA programme aims to accelerate the development of Cambodia’s green and sustainable bond market and associated policies, tools and mechanisms to facilitate financing towards climate mitigation and adaptation initiatives.
Thematic bonds are a traditional fixed-income instrument that enables investors to finance specific investment themes, including climate change, health, food, education and access to financial services. They also allow investors to target specific Sustainable Development Goals (SDGs) through investment.