BAKU, Azerbaijan, October 15. The Asian
Development Bank (ADB) is considering the Climate Advance Platform
project, the Bank said on its website.
The regional initiative covers Azerbaijan, Bhutan, Kazakhstan,
the Kyrgyz Republic, Pakistan and Thailand.
Under the proposed project, Azerbaijan is expected to receive
$500,000 in technical assistance, while Bhutan is expected to
receive $300,000. Kazakhstan, the Kyrgyz Republic and Pakistan are
each expected to receive $1 million through the Energy Transition
Mechanism Partnership Trust Fund. Thailand is expected to receive
$350,000.
The Regional Climate Advance Platform is set to receive an
additional $1.05 million.
According to the ADB, the Climate Advance Platform is designed
to help developing member countries translate climate commitments
into investment projects.
The initiative is structured around three pillars: setting the
direction by developing long-term transition pathways and
strategies; planning the transition through prioritized investment
programs, financing strategies and policy reform agendas; and
accelerating implementation by strengthening the institutional,
financial and delivery systems needed to carry out priority
initiatives.
The technical assistance is intended to support selected
countries across Asia and the Pacific, initially focusing on those
seeking to implement their updated nationally determined
contributions (NDC 3.0), develop long-term transition pathways,
prepare climate investment plans and establish conditions for
increased climate investment.
Activities will be carried out in coordination with ministries
responsible for finance, planning, the environment, energy and
transport, as well as other relevant government agencies.
The ADB said its convening role would help promote a
whole-of-government approach to climate action.
