KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim lauded ASEAN’s efforts to draw the interest of major institutions to ensure the success of the ASEAN Power Grid Financing Initiative.
He stated that the ASEAN Power Grid serves as the backbone of regional cooperation linking sustainability, security, and affordability in real terms.
Anwar noted that Malaysia remains fully committed to this shared agenda and with unity of purpose the region can balance the energy trilemma and power ASEAN’s growth for decades to come.
He emphasised that ambition must be matched with resources for the ASEAN Power Grid which requires sustained investment and innovative financing.
ASEAN under Malaysia’s chairmanship has endorsed the ASEAN Power Grid Financing Initiative developed with the Asian Development Bank and the World Bank.
The prime minister said this in his keynote address at the joint opening ceremony of the 43rd ASEAN Ministers on Energy Meeting and related meetings as well as the 25th ASEAN Energy Business Forum.
Anwar who is also the Finance Minister said the ASEAN Power Grid Financing Initiative ensures that ASEAN’s vision of a fully interconnected power grid by 2045 is not only technically possible but financially viable and inclusive.
He added that the ASEAN Power Grid’s establishment reflects the collective resolve to deepen regional energy links and to position ASEAN as a model of sustainable and equitable cooperation.
The Asian Development Bank the World Bank Group and ASEAN launched a new financing initiative to support the ASEAN Power Grid yesterday.
ADB has committed up to 10 billion dollars for the ASEAN Power Grid over the next 10 years supported by an initial 6 million dollars of technical assistance funded by multiple partners.
Meanwhile the World Bank is providing an initial contribution of 2.5 billion dollars under the Accelerating Sustainable Energy Transition Program including a 12.7 million dollar seed grant to the ASEAN Centre for Energy. – Bernama
