Denmark Establishes Second Fund for Renewable Energy in ADB

Manila, Philippines [] To establish the Second Danish Cooperation Fund for Renewable Energy and Energy Efficiency in Rural Areas, the Government of Denmark will make an initial grant of DKr 20 million [US$3.4 million] to increase the use of renewable energy in Asian Development Bank’s (ADB) developing member countries. The fund will support the increased use of these technologies and expand access to adequate, affordable, and sustainable clean energy services in support of poverty reduction. ADB, established in 1966 and based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance. In 2005, it approved loans and grants for projects totaling $6.95 billion, and technical assistance amounting to $198.8 million.
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