The Asian Development Bank (ADB) said Tuesday that Sweden has agreed to contribute 4.7 million U.S. dollars to the multi-donor trust fund under the bank's Clean Energy Financing Partnership Facility.
Sweden joins Norway and Australia as the third contributor to the multi-donor fund, ADB said in a statement.
The Clean Energy Financing Partnership Facility, administered by ADB, aims to improve energy security in ADB's developing member countries. It also seeks to help them shift to low-carbon economies through cost-effective investments in technologies and practices that reduce greenhouse gas emissions.
"We appreciate the generous assistance to ADB's clean energy financing program, which will help bolster our response to the dual issues of energy security and climate change," said Werner Liepach, Principal Director of the Office of Cofinancing Operations.
The Clean Energy Financing Partnership Facility, which was established in April 2007, has financed nearly 20 clean energy and energy efficiency projects in ADB's member economies.
ADB has been actively seeking to build up its network of financing partners to support projects under the Partnership Facility.
Source:Xinhua
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