CIOB International News

The Asian Development Bank says that from 2007 onwards it plans to make available funds of up to US$1 billion a year to promote the use of clean and secure energy in the Asia and Pacific region.

Though the Bank's report on energy strategy does not specifically mention natural gas, it is evident from lending decisions made recently for India and Indonesia that this fuel, cleaner than coal or oil, will figure largely in the expanding investment programme.

The finance policies emerging from a year-long study backed by a US$1 million technical assistance grant are expected to lay particular stress on the needs of developing member countries - DMCs - within the region.

Asia's energy consumption overall, now running at over 2,100 billion tonnes of oil equivalent annually, is forecast by the International Energy Agency to more than double in 20 years' time.

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Posted by pichu at August 23, 2006 9:42 AM