Asian Development Bank (ADB) and Japan have announced a new joint plan to help countries and businesses in Asia and the Pacific deal with rising energy costs.
The initiative will also support the shift towards cleaner, more reliable, and sustainable energy systems in the region.
“With energy markets under strain, countries need support that addresses immediate pressures while laying the groundwork for long-term resilience,” said ADB President Masato Kanda. “We are grateful for Japan’s partnership in advancing this initiative, which will help businesses in our region stay afloat today while supporting the transition to stronger and more sustainable energy systems.”
The initiative, called Action for Creating Energy Security for Long-term Resilience (ACCEL), was officially launched at the ADB Annual Meeting.
It aims to provide funding and investment support to help countries handle short-term energy problems and also build stronger, more reliable energy systems for the future.
“Under ACCEL, we expect to leverage Japan’s knowledge and technology to contribute to enhanced growth across the Asia and Pacific region,” said Satsuki Katayama, Finance Minister of Japan. “This initiative aims to support SMEs affected by the conflict, while promoting the transformation of energy structures in developing member countries. Japan will continue to work closely with ADB to advance crisis response efforts.”
Many developing countries supported by Asian Development Bank (ADB) are facing problems due to changing fuel prices and limited energy supply. Small and medium businesses (SMEs) are especially affected, as their costs are rising and access to money is becoming harder.
The Action for Creating Energy Security for Long-term Resilience (ACCEL) program will follow a two-step approach—helping businesses in the short term and building stronger energy systems for the future.
In the short term, ACCEL will provide financial help to companies, especially SMEs, to manage cash flow problems. It will also offer technical support to help them handle current challenges.
Over time, the program will focus on creating more diverse and sustainable energy systems. This will help improve both economic stability and energy security across Asia and the Pacific.
ADB will use different financial tools like loans, credit lines, and guarantees to support businesses. It will also invest more in clean energy, energy efficiency, and conservation projects. These efforts aim to keep businesses running, protect jobs and build stronger energy systems for the future.
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