Sweden contributes more than $4 mn to clean energy fund

November 4th, 2008 - 4:57 pm ICT by IANS  

Manila, Nov 4 (DPA) The Asian Development Bank (ADB) said Tuesday Sweden has agreed to contribute $4.7 million to a financing facility that aims to promote clean energy in the region.With the contribution, Sweden joined Norway and Australia as the third contributor to the multi-donor Clean Energy Financing Partnership Facility, which is administered by the Manila-based ADB.

The fund aims to improve energy security in Asia and seeks to help countries shift to low-carbon economies by investing in technologies and practices that reduce greenhouse gas emissions.

“We appreciate the generous assistance to ADB’s clean energy financing programme, which will help bolster our response to the dual issues of energy security and climate change,” said Werner Liepach, principal director of the Office of Cofinancing Operations.

The Clean Energy Financing Partnership Facility, which was established in April 2007, has since financed nearly 20 clean energy and energy efficiency projects in ADB member countries.

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