The Northern Tonle Sap Basin is one of Cambodia's most important agricultural regions, providing a fifth of the country's cereal and grain production, including 20 percent of the national aromatic rice production. At the same time, there are growing market opportunities for high-value and niche value chain products such as mango, cashew, organic rice, and leafy vegetables. Home to approximately 20 percent of the population, the Northern Tonle Sap Basin is one of regions that is most vulnerable to floods and droughts due to climate change, which are affecting local livelihoods significantly. Most smallholder farmers and other value chain actors remain marginalized and vulnerable to climate change impacts. This is due to a combination of financial, technological, regulatory, market and knowledge capacity barriers associated with environmental degradation and loss of natural resources in the targeted landscapes which expose rural communities to food and water insecurity and unsustainable livelihoods.

PEARL aims to enhance the resilience of smallholder farmers, especially women's groups, and local communities to climate change. The specific objective is to promote access to market opportunities and instruments that will reduce smallholders' vulnerability to the impacts of climate change while improving agricultural production and rural livelihoods. The project offers a holistic, three-fold response to enhance adaptation and reduce climate-related risks, with investments aimed at:

• Enhancing smallholder farmer capacities to manage climate change impacts and related risks.
• Increasing market incentives and access to technologies that promote climate-resilient, higher-value, diversified, and sustainable production and processing.
• Strengthening regulatory and institutional frameworks and capacities for climate-resilient agricultural certification, increased public-social-private partnerships, and climate-informed investment support.