Australia extends A$21.584-M grant to ADB for water, clean-energy projects

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THURSDAY, 05 MAY 2011 19:27 CAI U. ORDINARIO / REPORTER

THE Australian government has extended an untied grant of A$21.584 million to Asian Development Bank (ADB)-administered trust funds for water investment and clean-energy initiatives in Asia and the Pacific.

Australia is contributing A$15 million to the water financing partnership facility, on top of an initial contribution of A$10 million. It also extended A$6.584 million to the clean-energy financing partnership facility (CEFPF), which will be paid in 2011, 2012 and 2013.

“Australia’s valuable contributions to the water financing partnership facility and the clean-energy financing partnership facility are very much appreciated as it will strongly support ADB’s goal of providing 200 million people with safe drinking water and improved sanitation, delivering 40 million people with better irrigation and drainage services, deploy new clean energy technology, lower barriers to adopting clean-energy technologies, and actively encourage clean-energy programs in the region where they are needed most,” ADB Office of Cofinancing Operations head Tadashi Kondo said in a statement.

Annual consultations will be held between the Australian Agency for International Development and ADB to review the initiatives and the results of the funds.

The ADB explained that the water financing partnership facility was established in 2006. It aims to provide better access to safe drinking water and improved sanitation to more people in Asia and the Pacific. 

The facility also provides more efficient irrigation and drainage services, and to integrate the management of water resources in river basins for sustained economic growth and environmental improvement. Other contributors include the governments of Austria, Netherlands, Norway and Spain.

The CEFPF was established in 2007 to help improve energy security in developing member-countries and decrease the rate of climate change. It does this by financing new, more efficient and less polluting technologies.

The government of Australia has already contributed A$7 million to the facility. Other CEFPF partners include the governments of Japan, Norway, Spain, Sweden and the Global CCS Institute.