Norway Contributing NOK60M to ADB's Multi-Donor Trust Funds for Water, Energy
MANILA, PHILIPPINES - Norway has agreed to contribute NOK60 million for 2007-2009 to multi-donor trust funds under the Water Financing Partnership Facility and the Clean Energy Financing Partnership Facility.
Norway joins Australia as the second contributor to the multi-donor trust funds. The funds are administered by the Asian Development Bank (ADB).
The Water Financing Partnership Facility was established in 2006 to provide ADB’s water financing program with resources to support demonstration projects and to support the quality of the program through knowledge, capacity and innovation services; engaging civil society; and regional cooperation.
The objective of the Clean Energy Financing Partnership Facility, which was launched in April 2007, is to improve energy security in ADB’s developing member countries through increased use of clean energy.
The multi-donor funds support grant components of investment projects and technical assistance.
“Contributions from bilateral, multilateral and individual sources, including companies and foundations will be accepted. They will be used for promoting clean energy and for funding projects in the water sector that will ensure stable water supply and sanitation, most especially for the poor and disadvantaged,” said Xianbin Yao, Acting Director General of ADB’s Regional and Sustainable Development Department.
The Norwegian government will allocate NOK10 million every year from 2007 to 2009 for each fund. The allocations are conditional upon the annual appropriation by the Parliament of Norway.
“We welcome this significant contribution, which will strengthen the support to water and energy sectors in the region,” said Werner Liepach, Principal Director of ADB's Office of Cofinancing Operations.
All of ADB's developing member countries are eligible for support for activities prioritized under the clean energy and water programs.
Activities funded by the multi-donor funds may be made available to central and local governments, government agencies and other entities, including government organizations.
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