Southeast Asian green recovery to get £110m from UK

Southeast Asian green recovery to get £110m from UK: The UK has reported £110 million in funding to assist Southeast Asian countries to invest in clean infrastructure, like renewable energy as well as clean transport.

At COP26, the Association of Southeast Asian Nations (ASEAN) Catalytic Green Finance Facility, that is governed by the Asian Development Bank, has reported it will expand finance for countries in the region to create the infrastructure required on the path towards net zero.

The UK’s financial help increases the funding, which has followed ASEAN governments promising to set up over £5 billion worth of green projects throughout the region.

The UK government expects the funding will help to organise a green recovery due to the COVID-19 pandemic throughout these countries, that together additionally makee a heavy proportion of global greenhouse gas emissions.

Foreign Secretary Liz Truss highlighted that trade, investment & the open marketplace form a portion of the answer to stopping climate change and are not the problem.

She stated: “Britain is working closely with allies, through COP26 & beyond, to deliver the clean, honest and reliable infrastructure investment that the world so urgently needs.

“Co-investing with our friends in Asia provides jobs & opportunities here in Britain and will help the world meet its climate goals but will also drive growth in developing countries by supporting high quality infrastructure deals, in line with international standards.

“ASEAN is an important partner for Global Britain & I look forward to deepening our ties and taking the relationship into a bold new era.”

Southeast Asian green recovery to get £110m from UK

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