ADB, EU, and ASEAN partner to boost green infrastructure

The European Union is preparing to support the Association of Southeast Asian Nations’ (ASEAN) Catalytic Green Finance Facility (ACGF) with €50 million ($54.9 million).

The financing, which will come out of the EU's Asia Investment Facility, will help governments prepare and catalyze public and private financing for climate-friendly infrastructure projects across Southeast Asia. 

The facility - launched in April 2019 and managed by the Asian Development Bank - provides ASEAN governments with technical assistance and easier access to sovereign loans to finance infrastructure projects focusing on renewable energy and energy efficiency, sustainable urban transport, water supply and sanitation, and climate-resilient agriculture.