The NGO Forum on Cambodia (NGOF) is a membership-based network of national and international civil society organizations working to promote sustainable, inclusive, and equitable development in Cambodia. Through policy engagement, research, evidence generation, and multi-stakeholder dialogue, NGOF seeks to strengthen citizen participation and contribute to policy processes that affect people’s livelihoods, rights, and well-being.

With support from Climate Action Network International (CAN International) and the European Union-funded Fair Finance Futures (EU-FFF) initiative, NGOF is commissioning an assessment on the implications of historic and current debt on Cambodia’s socio-economic development. The study responds to growing concerns regarding rising household indebtedness, increasing public borrowing, and their implications for poverty reduction, social protection, climate resilience, economic justice, and sustainable development.

Cambodia has experienced significant economic growth over the past two decades, supported by public investments, external financing, private sector expansion, and increased access to credit. While debt can be an important instrument for development, concerns have emerged regarding the socio-economic implications of both public debt and household indebtedness, particularly among low-income households, farmers, workers, indigenous peoples, women, youth, and other vulnerable groups.

Historical debt arrangements, sovereign borrowing, development financing, and contemporary lending practices continue to shape Cambodia’s fiscal space, public expenditure priorities, and development trajectory. There is therefore a need for a comprehensive and evidence-based assessment to better understand the impacts of debt and identify practical pathways toward sustainable and equitable debt solutions.