The International Solar Alliance (ISA) signs pact Asian Development Bank to promote solar energy deployment in Asia & Pacific
The International Solar Alliance (ISA) has recently signed a cooperation arrangement with the Asian Development Bank (ADB) to promote solar energy deployment in Asia and the Pacific on March 10, 2018. The cooperation envisages solar power generation, solar based mini-grids and transmission systems for integrating solar energy into grids. The ISA and the ADB would also cooperate on knowledge sharing and developing technology roadmaps for the promotion of solar energy. Apart from this, the ISA has also inked joint financial partnership declarations with the African Development Bank (AfDb), the International Energy Agency (IEA), the Asian Infrastructure Investment Bank (AIIB), the Green climate fund (GCF), and the New Development Bank (NDB). ISA and AfDb would work on mobilisation of concessional financing through existing, notably the Bank’s Sustainable Energy Fund for Africa and the Facility for Energy Inclusion. AIIB and ISA have collaborated for promotion of solar energy in prospective ISA member countries where AIIB operates. Besides, ISA and GCF will promote development of affordable, reliable and sustainable solar energy as an important way towards a sustainable and inclusive economic growth. The purpose of the agreements is to deepen their cooperation in support of renewable energy.
Topics: African Development Bank • Asian Development Bank • Asian Infrastructure Investment Bank • Economy • Green Climate Fund • International Energy Agency • International Solar Alliance • Multilateral development banks • New Development Bank • Organizations • Sustainable energy