ADB gives loan to Cambodia’s energy transition programme
A 50 million USD loan for Cambodia has been approved by the Manila-based Asian Development Bank (ADB) to support the country’s energy transition programme.
Hanoi (VNA) 🙈– A 50 million USD loan for Cambodiahas been approved by the Manila-based Asian Development Bank (ADB) to supportthe country’s energy transition programme.
The lender said in a news release on December 15 thatCambodia’s energy transition sector development programme will be funded by a40 million USD loan from ADB's concessional resources and a 10 million USD loanfrom the ASEAN Infrastructure Fund under its ASEAN Catalytic Green FinanceFacility.
The programme supports the Cambodian Government'senergy transition agenda towards mainstream renewable energy and energyefficiency while shifting away from fossil fuels, it noted.
According to the news release, the projectinvestments under the programme will promote new technologies, includingdevelopment of the country's first grid connected battery energy storagesystem, which will enable additional renewable sources to enter the grid andimprove electricity grid stability for consumers.
Investments also include comprehensive city levelefficient street lighting systems in Kampot and Kep provinces, which willdemonstrate cost savings and benefits for tourism and public safety, it said.
Through policy reforms, renewable electricitygeneration by 2027 is expected to increase by at least 25% from a baseline of4,672 gigawatt hours in 2021, the news release noted./.
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The Asian Development Bank (ADB) has approved a 62.9-million-USD financing package to help Cambodia enhance food security and promote inclusive economic growth.
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