ADB, Japan announce joint initiative on energy security in Asia Pacific

The Asian Development Bank (ADB) and Japan have unveiled a joint program aimed at promoting entrepreneurship and enhancing energy security in the Asia-Pacific region.

According to Report correspondent from Samarkand, this decision was announced during the 59th Annual Meeting of the ADB Board of Governors.

"Amid volatile energy markets, countries require assistance that will help them overcome existing challenges while laying the foundation for long-term sustainable development. We express our gratitude to Japan for its cooperation in implementing this initiative, which will enable the region's businesses to maintain stability now while facilitating the transition to more reliable and environmentally friendly energy systems," emphasized ADB President Masato Kanda.

The program, called Action for Creating Energy Security for Long-term Resilience (ACCEL), combines financial assistance and investment resources to help countries overcome current shocks and build more resilient energy infrastructure for the future.

"We hope that ACCEL will leverage Japanese expertise and technology to stimulate economic development throughout the Asia-Pacific region. This initiative is aimed at supporting small and medium-sized enterprises affected by conflicts and accelerating the transformation of the energy sector in ADB's developing member countries. Japan intends to continue to actively engage with ADB to strengthen anti-crisis measures," said Japanese Finance Minister Satsuki Katayama.