US govt, ADB sign agreement mobilizing US$7 billion investment for energy projects in Asia 0 SHARES Share it! Share TweetBy Roy MabasaThe United States government and the Asian Development Bank (ADB) on Tuesday launched a US$7 billion worth of investment through an agreement that seeks to accelerate the transition to a sustainable, secure, and market-driven energy sector in Asia. At the Asia Clean Energy Forum held in Manila, US Agency for International Development (USAID) Asia Bureau Acting Assistant Administrator Gloria Steele and ADB Strategy, Policy, and Review Department Director-General Tomoyuki Kimura signed the partnership agreement to promote energy efficiency, energy sector reform, and good governance of Asia’s energy sector. As it follows decades of development collaboration between the US government and ADB, the new partnership is part of Asia Enhancing Development and Growth through Energy (Asia EDGE), a key initiative contributing to the US government’s Indo-Pacific Strategy. The Asia EDGE initiative is a US whole-of-government effort to grow sustainable and secure energy markets throughout the Indo-Pacific.

Source: Manila Bulletin June 18, 2019 16:07 UTC