ASEAN, ADB launch initiative to support green infrastructure projects
Southeast Asian governments, the Asian Development Bank (ADB) and major development financiers on April 4 launched a new initiative to invest more than 1 billion USD in green infrastructure projects across Southeast Asia.
Garden by the Bay in Singapore - Illustrative image (Source: Eco-Business.com)
Bangkok (VNA) – Southeast Asiangovernments, the Asian Development Bank (ADB) and major development financierson April 4 launched a new initiative to invest more than 1 billion USD in greeninfrastructure projects across Southeast Asia.
The “ASEAN Catalytic Green FinanceFacility” initiative was kick-started at a meeting between Thailand’s Ministerof Finance Apisak Tantivorawong, ADB President Takehiko Nakao, and seniorofficials from ASEAN and private sector partners in Chiang Rai, Thailand, onApril 4-5.
It provides loans and necessary technicalassistance for sovereign green infrastructure projects such as sustainabletransport, clean energy, and resilient water systems.
The facility will mobilise a total of 1billion USD including 75 million USD from the ASEAN Infrastructure Fund (AIF),300 million USD from ADB, 300 million EUR (336 million USD) from GermanDevelopment Bank KfW, 150 million EUR from the European Investment Bank, and150 million EUR from Agence Française de Développement.
ADB President Takehiko Nakao said thatthrough the facility, ADB will support ASEAN governments in developing greenand climate-friendly infrastructure projects that will contribute to fightingclimate change, improving the quality of air and water, and reducingenvironmental degradation across the region.
The facility is part of a new “Green andInclusive Infrastructure Window” under the AIF, a regional financing initiativeestablished by ASEAN governments and ADB in 2011 and administered by ADB.-VNA
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Garden by the Bay in Singapore - Illustrative image (Source: Eco-Business.com) 
