Countries within South East Asia are the next focal beneficiaries of over £110 million in fresh funding coming out of the United Kingdom towards clean infrastructure and backing for the region’s ambition to recover and get back on the growth track.
Launched during the ongoing climate summit COP26 in Glasgow, the Association of South East Asian Nations (ASEAN) Catalytic Green Finance Facility, under the management of the Asian Development Bank, will ramp up access to finance for critical infrastructure within ASEAN countries.
The fund also intends to provide the necessary funding towards the development of sustainable infrastructure projects such as renewable energy, clean transportation, or urban infrastructure in developing countries across the region.
According to the government, the £110 million in financial support planned by the United Kingdom will stir up a chain of other public and private funds. It also calls it’s a step towards a larger plan by ASEAN governments and partners to spend over £5 billion on green projects region-wide.
Foreign Secretary Liz Truss said: “Britain is working closely with allies, through COP26 and beyond, to deliver the clean, honest and reliable infrastructure investment that the world so urgently needs.”
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