CGW4U – Disparities and Inequities

COUNTRY INVOLVEMENT:
THE INTERNATIONAL MONETARY FUND & THE WORLD BANK
Record key initiatives and projects that the IMF (2020 and later) and World Bank are involved with in the
country that you have been assigned. Use the following websites to assist you.

1. The International Monetary Fund (IMF) – select “Countries” https://www.imf.org/en/Home

Before you begin, define SDR:

2. The World Bank – select “Where We Work” https://www.worldbank.org/en/home

Country Cambodia
The International Monetary Fund The World Bank

The engagement of the World Bank in Cambodia

focuses on capitalizing in human capital, managing
SDR refers to a global type of financial reserve
rural lack, establishing fundamental infrastructure,
currency established by the International Monetary
and empowering and enabling the communities.
Fund during 1969 and acts as an enhancement to
Cambodia attained its first acknowledgement from
the present money reserves for member states. It
the World Bank in the year 1993. After several years
was established as a response to the challenges and
of conflict, the priority of the World Bank has been
concerns regarding the dollars and gold limitations
to support the rebuilding of economic and social
as the single means of settling global accounts. It
institutions as well infrastructural growth and
augments global liquidity by supplementing reserve
development. Through subsequent programs of
currencies. The SDR value is obtained from the
partnership, the focus has been put on leadership
weighted basket of the main currencies, including
reforms, sustainable economic development, support
the US dollar, Chinese yuan, Japanese yen, and
of livelihoods, macroeconomic stability, and
British pound. Its interest rates provide the
expanding health as well as education services.
foundation for the calculation of the interest charged
Through the programs, the World Bank supports the
to particular member states when they borrow from
engagement of citizens, mainly to improve
the IMF and compensated members for their paid
accountability and transparency of the government.
creditor positions within the IMF.
The World Bank established a Country Partnership
Cambodia as a nation experiences uncertainties,
Framework (CPF) for Cambodia for FY19-23. The
including the potential suspensions and trade
CPF is a five-strategy framework closely related to
tensions from the preferential market. The IMF
Cambodia’s fourth phase of Rectangular Strategy for
supports the reforms of the authorities within
Growth, Equity, engagement, and Effectiveness. The
Cambodia through activities of capacity development
CPF focus on facilitating state efficiency and boost
and policy advice. The IMF carries out surveillance
the development of the private sector in Cambodia.
involving the monitoring of the financial and
Further, it will foster human growth and enhance
economic development and growth in Cambodia.
agricultural productivity and the sustainability of
Besides, the IMF provides policy advice that is aimed
natural resources. The World Bank backs the above
to prevent crises in Cambodia as well as other
emphasis through investment projects in nutrition,
growing nations. Moreover, the IMF has provided
health, enhanced livelihoods, disaster risks, and
Cambodia with loans on the balance of payments
community-level service delivery.
challenge. This significantly provides temporary
financing and support to the policies that are The World Bank is ussually involved in the sector of
channeled at alleviating the underlying issues and education in Cambodia. This is possible through
problems. The loans also help solve the problems of active projects such as the Secondary Education
 CGW4U – Disparities and Inequities
poverty in Cambodia. Notably, the programs initiated
by the IMF in Cambodia have also helped in
providing technical assistance as well as training to
member states such as Cambodia.
Over the years, the IMF has implemented both
technical assistance and surveillance to the
establishment of conduct codes of good practice
within its regions of responsibility as well as the
strengthening of the financial sectors within
Cambodia. The efforts have helped strengthen the
international financial system and ensure the
enhancement of the effectiveness of the IMF in
preventing and solving crises. Notably, the IMF has a
vital role in the strengthening of the financial system
as well as ensuring policies that guide against money
laundering and terrorism.
Improvement Project (SEIP), which purposes to
enhance the quality of secondary education by
strengthening school-funded management and
enhancing school facilities through rehabilitation and
construction. The other Higher Education Quality
and Capacity Improvement Project project provided
scholarships to many students in Cambodia to
pursue further studies abroad and seek tertiary
education within Cambodia.
The World Bank also supports Cambodia’s health
projects. For instance, the health Equity and Quality
Improvement Project (H-EQIP) is supported by the
World Bank and works to enhance the equity and
healthcare service quality across Cambodia. H-EQIP
is the fourth among other health projects supported
by the World Bank that have significantly assisted in
expanding the network of health facilities, supply
laboratory, and medical equipment, and supported
equity and financial protection of the poor as well as
support for the establishment of services for non-
communicable diseases.
Through the Voice and Action Project, as well as
other development partners, the World Bank
supports NGOs in Cambodia to enhance the service
delivery quality by health centers, primary schools,
and commune councils. Additionally, in the sector of
sanitation and water supply, the World Bank’s
project of Water Supply and Sanitation Improvement
Project supports the water supply investment within
lagging areas across five provinces of Cambodia.
This has improved the collection of wastewater as
well as Sime Reap city management.
Additionally, the World Bank, through the sector of
water resources management, supports the Mekong
Integrated Water Resource Management Project.
The project has been critical support to the
government in creating the primary foundation for
efficient and effective fishery and management of
water resources. Moreover, the World Bank has
significantly helped in the modernization of the
transport sector within Cambodia. For instance, the
World Bank sponsored three road projects, such as
the Road Rehabilitation Project, Road Asset
Management Project and the Provincial and Rural
Infrastructure.
Furthermore, the world bank is also actively involved
in supporting the public sector and public financial
CGW4U – Disparities and Inequities

management(PFM). The project has helped

strengthen Cambodia; for instance, the Public
Financial Management Modernization
Project(PFMMP) enhanced the capability to mobilize
domestic revenue. Besides, the project also helps
strengthen plann9ng and budgeting as well as
innovation, coordination, and improved service
delivery.