USAID, ADB Collaborates to Develop Asia-Pacific’s Sustainable Energy Market

The United States Agency for International Development (USAID) has announced that it has propelled a corporation with the Asian Development Bank (ADB) to fast-track the transition to a more sustainable, secure, and market-driven energy sector in Asia and the Pacific.

USAID Asia Bureau Acting Assistant Administrator Gloria Steele and Director General of ADB’s Strategy, Policy, and Review Department Tomoyuki Kimura contracted the partnership agreement at the Asia Clean Energy Forum (ACEF) being held at ADB headquarters.

Under the context of this agreement, USAID and ADB will work to rally $7 billion of investment for energy projects in Asia and the Pacific, boost the capacity of clean energy systems by 6 GW and increase regional energy trade by 10% over the next five years.  This agreement will encourage energy efficiency, energy sector reform, and good governance of Asia and the Pacific’s energy sector.  

This new corporation follows decades of USAID–ADB development association and comes as the U.S. government next month marks the one-year anniversary of Asia Enhancing Development and Growth through Energy (Asia EDGE), one of the key initiatives contributing to the U.S. government’s Indo-Pacific vision.