ADB and Japan Launch ACCEL Initiative to Bolster Energy Security & SME Resilience 📈

The Asian Development Bank (ADB) and Japan have launched the Action for Creating Energy Security for Long-term Resilience (ACCEL) to assist Asia-Pacific nations, including Sri Lanka's peer economies, in navigating volatile energy markets. • Objective: To mitigate immediate fuel price shocks while accelerating the transition to sustainable and resilient energy systems. • SME Support: Focuses on Small and Medium-sized Enterprises (SMEs) currently facing acute liquidity constraints and rising operating costs due to energy supply disruptions. • Two-Track Strategy: Short-term: Providing corporate liquidity and technical assistance to keep businesses operational and protect jobs. Medium/Long-term: Investing in renewable energy, energy efficiency, and conservation to diversify national energy mixes. • Financial Mechanisms: ADB will utilize financial intermediation loans, credit lines, and guarantees. Japan will provide knowledge-sharing and funding through ADB-administered trust funds, coordinating with JICA and JBIC for maximum impact. • Impact: The initiative aims to stabilize business activity and strengthen economic resilience in developing member countries facing fuel price volatility.