Since it was the HLT Fund was established in 2017, it has supported 12 investment projects, 37 technical assistance projects, and 23 direct charges.

Following the launch of the Energy Transition Mechanism (ETM) on 3 November, the Government of Japan (GOJ) announced a grant of $25 million toward the Energy Transition Mechanism (ETM) partnership led by ADB.

On 4 May, the draft Energy Policy paper was circulated to the members of the ADB Board for their and capitals’ review.

The Board, on 20 September approved increased financing of $60 million for the Electricity Grid Modernization Project in Nepal. The additional investments aim to increase electricity consumption per capita to 700 kilowatt hours by 2026 through the expansion of the transmission capacity and distribution networks in the country.The additional financing will support the construction of 16 kilometers of 132-kilovolt transmission lines from Nepalgunj to Kohalpur and from Chovar to Lagankhel.

On 1 December, the Board approved the Urban Transport Electrification Project with ADB providing $50.65 million in loan and grants to the Kyrgyz Republic for the purchase of 120 modern, battery-electric buses that will replace outdated diesel and trolleybuses.

MANILA, PHILIPPINES (29 April 2020) — The Asian Development Bank (ADB) has approved a $346 million loan to India to help provide efficient and reliable power connection to rural agriculture customers in the state of Maharashtra.Maharashtra is the second-most populous state in India, and about half of the state’s labor force is engaged in agriculture and related activities in the rural areas. Agriculture output, however, has been impacted by lack of irrigation, less-than-efficient use of electricity and water, as well as inadequate storage and connectivity to markets.

President Masa and IEA Fatih Birol held a videoconference on 8 June to discuss future collaboration between ADB and the IEA. ADB first signed a Memorandum of Understanding (MOU) with the IEA in 2017 to facilitate knowledge and analytical work to pursue clean energy development in ADB DMCs.

Building up on a Memorandum of Understanding signed in 2017 President Masa and International Energy Agency Executive Director, Fatih Birol signed a new MOU to deepen the collaboration between the two organizations particularly on energy sector resilience in Asia and the Pacific.The new 3-year MOU will merge the comparative advantages of the two organizations as they share knowledge and best practice in energy sector data and analysis, on-the-ground engagement, capacity building, technology, and innovation.

On 20 October, the Board approved the 2021 Energy Policy to help ADB developing member countries accelerate the development of sustainable and resilient energy systems that provide reliable and affordable access for all, foster inclusive economic growth and social development, and support the low-carbon transition in the region.

The 16th Asia Clean Energy Forum closed on Friday, 18 June with the message: the time to act is now and there is strength in working together. During the ACEF Opening Plenary, President Masa urged everyone in attendance to take “bold action now and commit wholeheartedly to fighting climate change and meeting the emission-reduction goals under the Paris Agreement, while ensuring universal energy access in a region where more than 200 million people still lack access to electricity.” What this will require is a paradigm shift from what the world has been used to doing.