Aust, ADB Target Water & Clean Energy Initiatives In Asia

Australia, ADB Target Water Needs, Clean Energy Initiatives In Asia

MANILA, PHILIPPINES ( 5 May, 2011) – The Government of Australia has agreed to provide an untied grant of A$21.584 million for Asian Development Bank (ADB)-administered trust funds targeted at water investment and clean energy initiatives in Asia and the Pacific.

The Government of Australia is contributing A$15 million to the Water Financing Partnership Facility, established in 2006. The fund aims to provide more people in Asia and the Pacific with better access to safe drinking water and improved sanitation, more efficient irrigation and drainage services, and to integrate the management of water resources in river basins for sustained economic growth and environmental improvement. Other contributors include the governments of Austria, Netherlands, Norway, and Spain.

In addition, the Australian Government is contributing A$6.584 million to be paid in 2011, 2012 and 2013 to the Clean Energy Financing Partnership Facility (CEFPF). This facility was established in 2007 to help improve energy security in developing member countries and decrease the rate of climate change. It will do this by financing new, more efficient and less polluting technologies. 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 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.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2010, it approved a total of $13.8 billion in financing operations through loans, grants, guarantees, equity investments, and technical assistance projects. ADB also mobilized cofinancing amounting to $3.7 billion.

ENDS

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