The Asian Development Bank (ADB) and the International Energy Agency (IEA) have renewed their agreement to collaborate on the sustainability and resilience of the energy sector.
The two organisations have signed a Memorandum of Understanding (MoU) to scale up efforts to advance progress on sustainability with increased focus on energy sector resilience in Asia and the Pacific.
Under the three-year agreement, they will share knowledge and best practice in energy sector data and analysis, on-the-ground engagement, capacity building, technology and innovation, among other areas.
This is expected to help overcome critical knowledge and experience gaps blocking the development of sustainable energy systems in ADB’s developing member countries as well as enhance the IEA’s data collection and capacity building efforts in Asia and the Pacific.
ADB President Masatsugu Asakawa said: “The energy sector is a key driver of growth and human development, especially during recovery from the impacts of the coronavirus disease (COVID-19) pandemic.
“We are pleased to renew our agreement with IEA, which builds on our successful collaboration to date and we look forward to advancing our shared objective of achieving a more sustainable and resilient energy future in Asia and the Pacific.”
ADB invested more than $23 billion (£18bn) in clean energy from 2008 to 2019.