News Column

ADB helps launch sustainable energy investment hub for Asia

June 17, 2014

The Associated Press

MANILA, Philippines - The Asian Development Bank and two United Nations agencies have launched a hub that aims to mobilize investments and innovation to bring clean energy to the Asia-Pacific region, where more than 600 million people have no access to electricity and 1.8 billion others still use firewood and charcoal at home.

Energy demand is also soaring in the regions, and the ADB says by 2035 developing countries in the region will account for 56 per cent of global energy use, up from 34 per cent in 2010. They will need more than $200 billion in energy investments by 2030.

ADB will host and manage the Sustainable Energy for All hub. The UN Economic and Social Commission for Asia and the Pacific and the UN Development Programme are its partners.

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Source: Canadian Press DataFile

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