Latest news with #ASEANSummitwithDialoguePartners
The Sun
26-05-2025
- Business
- The Sun
ADB, World Bank to reveal ASEAN grid funding plan in October
KUALA LUMPUR: The Asian Development Bank (ADB) and the World Bank will jointly launch the ASEAN Power Grid (APG) Finance Facility Framework at the ASEAN Summit with Dialogue Partners in late October, a major step towards accelerating regional energy integration. ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said the facility is to support the development and deployment of cross-border energy infrastructure under the APG initiative. 'There is going to be a major announcement on their APG Finance Facility Framework, probably in October when the major summit takes place,' he said, referring to the 47th ASEAN Summit scheduled in October. 'In that framework, they are going to be addressing the ability to come in, in terms of more funding on the table for member states to deploy,' he told reporters during the pre-event briefing on the AEC Strategic Plan 2026-2030 on Friday. In addition to financing, Satvinder said the framework will also offer capacity-building support, including grants, free feasibility studies, and financing facilities. It will also feature improved loan terms such as moratoriums for deserving projects and protection against political uncertainties aiming to accelerate cross-border electricity projects under the APG, many of which have struggled to progress due to financing and investment risks. 'So, I think this is positive momentum that you are going to hear about in this year's chairmanship under Malaysia,' he said. Satvinder also highlighted that the scope of the APG has significantly expanded beyond the original 18 land-based connector projects. It now includes subsea transmission lines as well as national grid upgrades to support the integration of renewable energy and improve cross-border interoperability aimed to enable smoother energy flows between countries and strengthen the region's energy resilience, he added. The APG, introduced in 1997, is a region-wide initiative to interconnect electricity infrastructure among the bloc's 10 member countries, with the goal of achieving fully integrated grid operation by 2045. According to ASEAN Secretary-General Dr Kao Kim Hourn, the APG vision requires an estimated investment of US$764 billion (US$1 = RM4.23) for power generation and transmission infrastructure. Last month, ADB president Masato Kanda said the bank can readily commit US$10 billion towards the APG to expedite cross-border connections, national grid projects, and renewable energy initiatives that will facilitate power trade. It was reported that ADB has programmed US$27 billion in financing over the next three years to support ASEAN members' development priorities, including boosting economic growth and competitiveness, enhancing human capital, and strengthening resilience. Meanwhile, according to the ASEAN Centre for Energy (ACE), the World Bank has approved US$5 million in technical assistance funding to support the APG on September last year.
The Sun
26-05-2025
- Business
- The Sun
ADB, World Bank to unveil ASEAN Power Grid financing plan at 47th ASEAN Summit in October
KUALA LUMPUR: The Asian Development Bank (ADB) and the World Bank will jointly launch the ASEAN Power Grid (APG) Finance Facility Framework at the ASEAN Summit with Dialogue Partners in late October, a major step towards accelerating regional energy integration. ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said the facility is to support the development and deployment of cross-border energy infrastructure under the APG initiative. 'There is going to be a major announcement on their APG Finance Facility Framework, probably in October when the major summit takes place,' he said, referring to the 47th ASEAN Summit scheduled in October. 'In that framework, they are going to be addressing the ability to come in, in terms of more funding on the table for member states to deploy,' he told reporters during the pre-event briefing on the AEC Strategic Plan 2026-2030 on Friday. In addition to financing, Satvinder said the framework will also offer capacity-building support, including grants, free feasibility studies, and financing facilities. It will also feature improved loan terms such as moratoriums for deserving projects and protection against political uncertainties aiming to accelerate cross-border electricity projects under the APG, many of which have struggled to progress due to financing and investment risks. 'So, I think this is positive momentum that you are going to hear about in this year's chairmanship under Malaysia,' he said. Satvinder also highlighted that the scope of the APG has significantly expanded beyond the original 18 land-based connector projects. It now includes subsea transmission lines as well as national grid upgrades to support the integration of renewable energy and improve cross-border interoperability aimed to enable smoother energy flows between countries and strengthen the region's energy resilience, he added. The APG, introduced in 1997, is a region-wide initiative to interconnect electricity infrastructure among the bloc's 10 member countries, with the goal of achieving fully integrated grid operation by 2045. According to ASEAN Secretary-General Dr Kao Kim Hourn, the APG vision requires an estimated investment of US$764 billion (US$1 = RM4.23) for power generation and transmission infrastructure. Last month, ADB president Masato Kanda said the bank can readily commit US$10 billion towards the APG to expedite cross-border connections, national grid projects, and renewable energy initiatives that will facilitate power trade. It was reported that ADB has programmed US$27 billion in financing over the next three years to support ASEAN members' development priorities, including boosting economic growth and competitiveness, enhancing human capital, and strengthening resilience. Meanwhile, according to the ASEAN Centre for Energy (ACE), the World Bank has approved US$5 million in technical assistance funding to support the APG on September last year.
Barnama
26-05-2025
- Business
- Barnama
ADB, World Bank To Unveil ASEAN Power Grid Financing Plan At 47th ASEAN Summit In October
By Zufazlin Baharuddin KUALA LUMPUR, May 26 (Bernama) -- The Asian Development Bank (ADB) and the World Bank will jointly launch the ASEAN Power Grid (APG) Finance Facility Framework at the ASEAN Summit with Dialogue Partners in late October, a major step towards accelerating regional energy integration. ASEAN Deputy Secretary-General for ASEAN Economic Community (AEC) Satvinder Singh said the facility is to support the development and deployment of cross-border energy infrastructure under the APG initiative. 'There is going to be a major announcement on their APG Finance Facility Framework, probably in October when the major summit takes place,' he said, referring to the 47th ASEAN Summit scheduled in October. 'In that framework, they are going to be addressing the ability to come in, in terms of more funding on the table for member states to deploy,' he told reporters during the pre-event briefing on the AEC Strategic Plan 2026-2030 on Friday. In addition to financing, Satvinder said the framework will also offer capacity-building support, including grants, free feasibility studies, and financing facilities. It will also feature improved loan terms such as moratoriums for deserving projects and protection against political uncertainties aiming to accelerate cross-border electricity projects under the APG, many of which have struggled to progress due to financing and investment risks. 'So, I think this is positive momentum that you are going to hear about in this year's chairmanship under Malaysia,' he said. Satvinder also highlighted that the scope of the APG has significantly expanded beyond the original 18 land-based connector projects.
Barnama
30-04-2025
- Politics
- Barnama
46th ASEAN Summit: Security Training, Simulation To Be Held May 5-7
KUALA LUMPUR, April 30 (Bernama) -- Security training and simulation ahead of the 46th ASEAN Summit, scheduled to be held at the Kuala Lumpur Convention Centre on May 26-27, will be carried out from May 5 to 7 from 8 am to 6 pm. National Security Council (MKN) deputy director-general (strategic security) Datuk Baharuddin Ahmad said the training was to ensure that the safety of international leaders and guests was at the highest level, in addition to testing the preparedness of the country's security forces. "There are some simulations for ambushes, and when this training takes place, there will be one or two roads closed and it will involve a lot of machinery, such as the Federal Reserve Unit (FRU) troops. So, I ask anyone who is around the Kuala Lumpur Convention Centre area to remain calm. "This training will be carried out like actual situations. For example, we are deploying a helicopter from a base, we want to test which base it should be mobilised from, we also want to test how long it takes for the helicopter to be deployed to another location for rescue,' he said as a guest on Bernama Radio today. He added that cooperation for the preparation of the ASEAN Summit involves more than 13 agencies, including the Royal Malaysia Police, Malaysian Armed Forces, Malaysian Fire and Rescue Department as well as various agencies and ministries. Baharuddin said other preparations that are carried out meticulously and in detail also involve aspects of communications, cyber security and distribution of resources to ensure that there are no elements of sabotage that can tarnish the country's image. "The objective of the MADANI Government and Malaysia, as the host, is to ensure that this summit runs smoothly so that it produces a good outcome in terms of economics, politics and technology between ASEAN countries and external partners,' he said. Malaysia will host the 46th ASEAN Summit (May 26-27), while the ASEAN Summit with Dialogue Partners will begin at the end of October, as part of its role as the Chair of ASEAN in 2025. The 46th ASEAN Summit is expected to convene all 10 ASEAN member state leaders to discuss regional issues as well as foster economic cooperation and champion the principles of inclusiveness and sustainability.
