ADB to roll out $1 billion for clean energy investments in the Pacific region

January 29, 2020

The Asian Development Bank (ADB) is planning to roll out nearly $1 billion energy investment across the Pacific region during 2019-21. The Pacific Renewable Energy Investment Facility is streamlining the investments worth $750 million made by ADB and donor partners in the 11 smallest developing member countries for the development of small-scale renewable energy projects through a single facility. The Pacific Renewable Energy Program is designed to encourage private sector investment in the renewable sector. For this programme, ADB is providing financing of $100 million. Currently, ADB is supporting 14 active energy projects worth $371 million in 10 countries in the Pacific.