Australia supports ADB clean energy initiatives in Asia

Australia has agreed to provide an untied grant of A$21.584 million for ADB-administered trust funds targeted at water investment and clean energy initiatives in Asia and the Pacific.

The Australian Government is contributing A$6.584 million to be paid in 2011, 2012 and 2013 to the Clean Energy Financing Partnership Facility. This facility was established in 2007 to help improve energy security in developing member countries and decrease the rate of climate change. It does this by financing new, more efficient and less polluting technologies. Australia has already contributed A$7 million to the facility. Other CEFPF partners include the governments of Japan, Norway, Spain, and Sweden and the Global CCS Institute.

“Australia’s valuable contributions to the Water Financing Partnership Facility and the Clean Energy Financing Partnership Facility are very much appreciated as it will strongly support ADB’s goal of providing 200 million people with safe drinking water and improved sanitation, delivering 40 million people with better irrigation and drainage services, deploy new clean energy technology, lower barriers to adopting clean energy technologies, and actively encourage clean energy programs in the region where they are needed most,” said Tadashi Kondo, Head of ADB’s Office of Cofinancing Operations.

Annual consultations will be held between AusAID and ADB to review the initiatives and the results of the funds.