📈 World Bank Commits US$ 2.5 Bn for Asia-Pacific Energy Transition

• Overview: The World Bank has launched a US$ 2.5 billion Multiphase Programmatic Approach (MPA) to significantly scale up renewable energy and support power sector decarbonization across the East Asia and Pacific (EAP) region. • Context: The program aims to address the region's challenge of strong economic growth running parallel with high fossil fuel use, as EAP now accounts for over a third of global emissions. • Structure & Financing: The 10-year program, active until 2034, utilizes US$ 2.5 Bn (IDA/IBRD) to strengthen institutions, finance regional and national transmission infrastructure, and de-risk clean energy investments to mobilize private sector participation. • Key Targets (By 2034): • Enable 2.5 GW of renewable energy generation capacity. • Mobilize US$ 1.5 billion of private investment in clean energy. • Provide new or improved access to clean energy for 20 million people. • Result in a net reduction of 60 million tons of CO₂.