MANILA, PHILIPPINES - The Government of Spain has agreed to contribute a total of $10 million to multi-donor trust funds operating under the Asian Development Bank's (ADB) Water Financing Partnership Facility and Clean Energy Financing Partnership Facility.
With its pledge of assistance, Spain joins Norway, Australia, Austria and Sweden as financial contributors to the funds under the facilities.
"We are grateful for this significant contribution, which will strengthen support to the water and energy sectors in the region," said Werner Liepach, Principal Director of ADB's Office of Cofinancing Operations.
The multi-donor funds, which are administered by ADB, provide finance for investment projects and technical assistance work in the water and clean energy sectors. They are made available to central and local governments, government agencies and other entities.
The Water Financing Partnership Facility was set up in 2006 to mobilize cofinancing from development partners in support of ADB's Water Financing Program of 2006 to 2010. The Program targets large scale investment, reform and capacity building in rural and urban water services and river basin water management.
The Clean Energy Financing Partnership Facility, which was launched in April 2007, seeks to improve energy security in ADB's developing member countries by increasing their use of clean and renewable sources of energy.