The Asian Development Bank has kicked off a year-long focus on sustainable energy at a Feb. 1 event where it also unveiled plans to mobilize more funds and develop new projects to meet Asian countries’ growing appetite for clean energy.
ADB co-hosted the regional rollout of the International Year of Sustainable Energy for All in New Delhi, India. The bank was joined by leading organizations such as U.N. Energy, the Energy and Resources Institute, and the U.N. Foundation. The event marks the official start of year-long activities promoting the importance of energy access to human development efforts in Asia. This is in line with the United Nations’ designation of 2012 as the International Year of Sustainable Energy for All.
As part of its efforts to promote universal energy access across Asia, ADB said it will initiate more public-private partnerships and develop new projects to attract cofinancing support. ADB’s efforts under the initiative will be managed largely by its Energy for All and Clean Energy programs as well as the bank-led Energy for All Partnership.
ADB also noted it anticipates an increase in the demand for clean energy investments among its member states. The International Finance Corp. recently made a similar prediction for Bangladesh. An IFC study says energy efficiency projects are likely to be the next big thing for investors interested in the Southeast Asian country.
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