US allocates US$6 billion for sustainable energy development in Asia Pacific

The US will provide up to US$6 billion to support the the US-Asia Pacific Comprehensive Partnership for a

Sustainable Energy Future. Image: AMagill.
The US, Brunei and Indonesia have proposed a new joint framework aimed at securing affordable and cleaner

energy suppliers for the Asia Pacific region.

The framework, the US-Asia Pacific Comprehensive Partnership for a Sustainable Energy Future, has been agreed

by President Obama, Sultan Haji Hassanal Bolkiah of Brunei and Indonesian President Susilo Bambang Yudhoyono.

The partnership will focus on driving investment and facilitating progress on four key regional priorities —

renewables and cleaner energy; markets and interconnectivity; the emerging role of natural gas; and sustainable

development. It will work closely with the World Bank and the Asian Development Bank to enhance their work in

the region on these priorities.

Asia Pacific currently has a number of bilateral and multilateral energy and environmental initiatives. The US,

Brunei and Indonesia will aim to coordinate and enhance these efforts, share best practices and leverage

existing initiatives across the various organisations which undertake this work.

The partnership will also build upon the existing energy initiatives in the region, including the ASEAN-United

States Energy Cooperation Work Plan, the APEC Energy Working Group, the East Asia Summit Energy Ministers.

In order to help US manufacturers and businesses, the US has agreed to provide up to US$6 billion to support

the partnership. The US Ex-Im Bank will launch a programme to make available US$5 billion in export credit

financing to eligible countries in the region over the next four years. This will help to increase access to

American technology, services and equipment for the implementation of energy projects. The Overseas Private

Investment Corp (OPIC), meanwhile, will provide US$1 billion to finance sustainable power and energy

infrastructure projects.

Furthermore, the US Trade and Development Agency (USTDA) will support programmes in partner countries concerned

with power generation, the modernisation of power distribution and the upgrading of grid efficiencies to

accommodate renewable power. The US State Department will manage a US$1 million energy capacity-building fund

to support such partnership activities.

https://www.pv-tech.org/news/us_allocates_us6_billion_for_sustainable_energy_development_in_asia_pacific