ADB today signed a memorandum of understanding with the Korea Transport Institute to focus on low-carbon green growth in the transport sector.

Indonesia's geothermal power capacity is set to nearly double following the endorsement of a new climate investment fund plan. The $400 million plan, endorsed by the Trust Fund Committee of the Clean Technology Fund, will help transform Indonesia's use of renewable energy and ultimately support the government to meet its long-term goal of reducing greenhouse gas emissions by 26% in 2020.

The Lao People's Democratic Republic is to receive grants of $3.1 million from ADB and the Nordic Development Fund to help the country become more climate resilient in the face of droughts, floods and other extreme weather events.

Senior government officials and climate change experts from around the world will gather in the Philippines this week to discuss financial measures to help developing countries mitigate greenhouse gas emissions and adapt to climate change.