Cambodia Relief, Recovery and Resilience Development Policy Financing

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The development objectives of the Relief, Recovery and Resilience Development Policy Financing Cambodia are structured around three strategic pillars: (i) continuing to provide timely and targeted relief to the affected population; (ii) facilitating robust recovery through structural reforms; and (iii) building resilience against future economic shocks. Actions to provide timely and targeted relief include scaling up of social assistance measures and improving financing for small and medium enterprises. Actions to facilitate robust recovery through structural reforms include improving trade facilitation and the business environment. And actions to build resilience against future economic shocks include better public finance management, greater efficiency of Cambodia’s banking sector, and greater efficiency of revenue collection. These pillars are mutually reinforcing. Pillars 1 and 2 support structural reforms to help shorten the recovery time and to make the recovery process more inclusive, while several of the actions in Pillar 1 will inform longer term recovery, not just relief. For example, social assistance can promote human capital development, bolstering long‐term productivity and growth. Development of a crisis adaptive social assistance system is, similarly, a hallmark of a resilient economy.