Japan Provides $17.6 Million to ADB for Low-Carbon TechnologyChisaki Watanabe
The Japanese government will provide 1.8 billion yen ($17.6 million) for a new trust fund set up by the Asian Development Bank to promote low-carbon technologies in the region.
The fund will provide grant finance to reduce the cost of advanced technologies such as those related to waste-to-energy programs and smart grids, the ADB said in a statement today.
Only countries that have signed a memorandum of understanding for a bilateral-offsets program with Japan will be eligible. Eight nations including Bangladesh and Cambodia have signed the agreement, which allows Japan to offset its carbon-dioxide emissions against efforts to reduce pollution in other countries. More countries are likely to join the list, the ADB said.