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ADB to double green energy investment

17 June 2009 08:16 (UTC +04:00)

Bakuâ€“ APA-Economics. The Asian Development Bank (ADB) said Wednesday it plans to double its clean energy investments to 2 billion dollars a year by 2013 to promote low-carbon growth and reduce greenhouse gas emissions in the region.
The Manila-based development lender said the spending was part of an energy efficiency initiative adopted four years ago when it set a target of $1 billion in annual investments.
The ADB hit its $1 billion annual investment target in 2008, the bank said in a statement.
The bank said it had funded power transmission enhancement in Azerbaijan, wind power projects in China and India, a biomass power facility in Thailand, hydropower initiatives in Bhutan, China and Vietnam, and a shift to energy-efficient lighting for low-income Philippine homes.