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ADB to Administer Danish Fund to Promote Renewable Energy and Energy Efficiency

MANILA, PHILIPPINES (23 January 2002) - The Asian Development Bank (ADB) will administer a Cooperation Fund to promote renewable energy and energy efficiency in small towns and rural areas in the Asian and Pacific region. The Government of Denmark will provide an initial contribution of DKK30 million (equivalent to US$3.58 million) to the Fund.

The Fund will finance technical assistance, including project preparation, training and advisory services, and institutional support. It will help convert energy supply systems toward cleaner fuel use and increased efficiency as well as promote conservation among end users. The Fund will also be used to review national policies, develop a policy agenda, and help strengthen the institutional capacity and technical capability of organizations to promote renewable energy and energy efficiency. In addition, it will support efforts to build up the institutional capacity for promoting green house gas abatement.

Developing member countries of ADB with an annual per capita Gross National Product of less than US$2,500 will be eligible for grants.

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