ADB, UNEP, GEF to set up climate technology hub in Manila

09:18, June 23, 2011      

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The Asian Development Bank (ADB), the United Nations Environment Programme (UNEP) and the Global Environment Fund (GEF) will set up a climate technology investments regional hub in Manila to help developing Asian economies adapt and mitigate the impact of climate change.

ADB President Haruhiko Kuroda said Wednesday the regional hub, which will be set up this year in the Philippines, will finance Asian countries' shift sustainable infrastructure development.

In his opening remarks at the 6th Asia Clean Energy Forum, Kuroda said the regional hub will also provide valuable feedback to the international negotiations on the UN's mechanisms of technology and finance and how these work on the ground in developing countries.

ADB Sustainable Infrastructure Division Head Gil-Hong Kim said the ADB, UNEP and GEF are still discussing the details of the creation of the hub. This is the reason why he could not given figures on how much funds will be committed to the hub.

Kim said the Manila-based ADB will host the center. UNEP and GEF have agreed to finance the regional hub.

Apart from the regional center, the ADB is also setting up the Asia Accelerated Solar Energy Development Fund to add another 3, 000 megawatts of solar energy in the region by 2013.

Source:Xinhua
 
 
     
 
 
 
     
 
 
 
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