ADB

The Luxembourg House of Financial Technology Announces the Inaugural 'Catapult: Financial Inclusion South East Asia' Program

Retrieved on: 
Tuesday, January 30, 2024
NIA, Learning, AFI, Government, Luxembourg for Finance, Directorate, Fintech, InFiné, Insurance, GGGI, Ecosystem, Eurozone, Travel, Luxembourg House, Money, ADB, Om, TFA, Kool-Aid

This pioneering acceleration program is designed to empower fintech startups, fostering growth and innovation in financial services.

Key Points: 
  • This pioneering acceleration program is designed to empower fintech startups, fostering growth and innovation in financial services.
  • In Luxembourg, program participants will be immersed in the centre's financial services and financial services ecosystem.
  • Nasir Zubairi, CEO of the LHoFT Foundation, said: "We are immensely proud to broaden our impact with Catapult: Financial Inclusion South East Asia.
  • Catapult: Financial Inclusion Southeast Asia welcomes applications from Fintech startups within the Southeast Asia region focused on addressing financial inclusion gaps with innovative and scalable solutions.

OPEC Fund delivers record results in 2023 with US$1.7 billion in development funding

Retrieved on: 
Monday, January 29, 2024
Islamic Development Bank, OPEC, Fishery, WFP, AA, UNIDO, Sanitation, History, Reconstruction, ACG, African Development Bank, European Central Bank, EBRD, IAEA, International development, Sustainable Development Goals, Climate change, Food, Investment, Water, Movement, S&P Global Ratings, ADB, International Atomic Energy Agency, Education, Plant, SDG, Ivory Coast, Growth, Renewable energy

The organization was established 48 years ago and the 2023 results represent a record in new commitments.

Key Points: 
  • The organization was established 48 years ago and the 2023 results represent a record in new commitments.
  • OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said: "In 2023, the OPEC Fund increased its impact through the delivery of development support in a challenging global environment.
  • We were also able to leverage our partnerships to mobilize development support by working with multilateral development banks and development finance institutions such as the Arab Coordination Group.
  • The issuance of the OPEC Fund's benchmark SDG bond raised US$1 billion for sustainable development projects.

OPEC Fund delivers record results in 2023 with US$1.7 billion in development funding

Retrieved on: 
Monday, January 29, 2024
Islamic Development Bank, OPEC, Fishery, WFP, AA, UNIDO, Sanitation, History, Reconstruction, ACG, African Development Bank, European Central Bank, EBRD, IAEA, International development, Sustainable Development Goals, Climate change, Food, Investment, Water, Movement, S&P Global Ratings, ADB, International Atomic Energy Agency, Education, Plant, SDG, Ivory Coast, Growth, Renewable energy

The organization was established 48 years ago and the 2023 results represent a record in new commitments.

Key Points: 
  • The organization was established 48 years ago and the 2023 results represent a record in new commitments.
  • OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said: "In 2023, the OPEC Fund increased its impact through the delivery of development support in a challenging global environment.
  • We were also able to leverage our partnerships to mobilize development support by working with multilateral development banks and development finance institutions such as the Arab Coordination Group.
  • The issuance of the OPEC Fund's benchmark SDG bond raised US$1 billion for sustainable development projects.

BII and ADB Trade and Supply Chain Finance Program sign $100m risk sharing agreement to promote green trade in Asia, including Vietnam

Retrieved on: 
Thursday, January 18, 2024
Private, Development, Knowledge, Partnership, Foreign direct investment, DFI, Carbon, Climate change, Asian Development Bank, ADB, BII, Climate, British International Investment, SDG, Renewable energy

Andrew Mitchell, UK Minister for Development and Africa, said: "This agreement between BII and the Asian Development Bank will unlock crucial green trade finance in Asia.

Key Points: 
  • Andrew Mitchell, UK Minister for Development and Africa, said: "This agreement between BII and the Asian Development Bank will unlock crucial green trade finance in Asia.
  • Green trade finance enables supply chain development of the renewable energy industry and tackles the bottleneck for much needed long tenor financing in the region.
  • The BII-ADB Green Trade Finance Facility supports SDG 7 on Affordable and Clean Energy and SDG 13 on Climate Action.
  • The transaction is led by Freddie Tucker, Investment Director, Trade and Supply Chain Finance at BII.

Windstream Wholesale Tulsa to Little Rock to Memphis Route Open for Business

Retrieved on: 
Tuesday, December 5, 2023
Technology, Mobile, Wireless, Telecommunications, Software, Networks, Internet, ICON, Digger T. Rock, Windstream Holdings, Health, OTDR, ADB, Partnership, Tunnel, Spectrum

This route connects Little Rock, Arkansas, to Memphis, Tennessee, and is now open for business.

Key Points: 
  • This route connects Little Rock, Arkansas, to Memphis, Tennessee, and is now open for business.
  • The new Little Rock to Memphis route is an addition to the company’s initial segment dubbed the “T-Rock Express,” released to customers in August 2022, which connects Tulsa, Oklahoma, to Little Rock.
  • In May 2022, Windstream Wholesale announced the beginning of the route expansion from Little Rock to Memphis.
  • "ADB Companies is honored to collaborate with Windstream Wholesale on the expedited construction of its new dark fiber route connecting Little Rock to Memphis,” said Stacey Thompson, chief operating officer, ADB.

ReNew Signs MoU with Asian Development Bank for US$ 5.3 billion

Retrieved on: 
Monday, December 4, 2023
Professional Services, Environment, Sustainability, Alternative Energy, Energy, Finance, Banking, Asian Development Bank, Carbon, Climate change, Organization, COP28, Renewable energy, Investment, Climate, Memorandum of understanding, ADB, Private, MOU, ReNew

ReNew Energy Global Plc ("ReNew") (Nasdaq: RNW, RNWWW), India’s leading renewable energy company and a preferred decarbonization partner, on Sunday signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) to collaborate on climate change mitigation and adaptation projects.

Key Points: 
  • ReNew Energy Global Plc ("ReNew") (Nasdaq: RNW, RNWWW), India’s leading renewable energy company and a preferred decarbonization partner, on Sunday signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) to collaborate on climate change mitigation and adaptation projects.
  • The MoU covers projects with an investment value of more than US$ 5.3 billion between 2023 and 2028.
  • The MoU was signed at COP28, Dubai by ReNew’s Founder, Chairman & CEO, Sumant Sinha and Suzanne Gaboury, Director General, Private Sector Operations Department, ADB.
  • The company has already invested around $8 billion in the clean energy space and the MoU will enable ReNew to raise further funding for renewable energy projects.

Impact Disclosure Taskforce Created to Scale Financing of the United Nations Sustainable Development Goals

Retrieved on: 
Tuesday, November 28, 2023
Environment, Finance, Consulting, Banking, Business, Professional Services, Sustainability, Environmental, Social and Governance (ESG), Asset Management, Asian Development Bank, Disclosure, Allianz Global Investors, ISSB, Sustainable Development Goals, CDPQ, Investment, Axa Investment Managers, Bank, Citigroup, Standard Chartered, International Capital Market Association, International Sustainability Standards Board, UNCTAD, AFD, Natixis Investment Managers, SDG, Research, USD, Société Générale, Global Impact, ADB, Conference, DFC, Linklaters, GISD, Task force, Poverty, Deutsche Bank, Engagement, Goldman Sachs, Investment banking, ICMA, Bank of America, UNIS-UN Conference, Innovation, Sustainable finance, ESG, Renewable energy, Asset management, Cryptocurrency

The Taskforce also intends to explore mechanisms for disseminating and analyzing this entity-level impact information to promote transparency and accountability.

Key Points: 
  • The Taskforce also intends to explore mechanisms for disseminating and analyzing this entity-level impact information to promote transparency and accountability.
  • The Taskforce also obtains input from public development banks including the Asian Development Bank (ADB), the French Agency for Development (AFD), and the United States International Development Finance Corporation (DFC), as well as from the Global Impact Investing Network (GIIN), members of the Global Investors for Sustainable Development Alliance (GISD), and Linklaters.
  • Collaborating to provide suggested guidance on standardized impact metrics for development finance will allow entities to more clearly communicate their contribution towards the SDGs.
  • We are working to support greater impact disclosures and ultimately attract more sustainable finance capital to emerging markets and developing countries.”

Automotive lighting market size to grow by USD 14.41 billion from 2022 to 2027 | FLEX N GATE Corp, General Electric Co., Hyundai Motor Group and more among the key companies in the market - Technavio

Retrieved on: 
Tuesday, December 5, 2023
Diamond Vision, Lighting, Safety, Recycling, EVS, Government, Application, Tax, Laser, LED, SUV, OEM, ADB, Analysis, SAE, Growth, EV, Car, Carbon fibers, Thermoplastic, Rail transport, Geography

Marelli Holdings Co Ltd: The company offers automotive lighting such as miniature lasers, micro-electrical mechanical systems, organic light diodes, and specialized LED.

Key Points: 
  • Marelli Holdings Co Ltd: The company offers automotive lighting such as miniature lasers, micro-electrical mechanical systems, organic light diodes, and specialized LED.
  • By geography, the global automotive lighting market is segmented into APAC, Europe, North America, South America, and Middle East and Africa.
  • The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive lighting market.
  • Major challenges - Stringent regulations governing automotive lighting technologies impede the growth of the automotive lighting market.

10+ Countries Join First-of-Its-Kind Consortium to Deploy 5 GW of Battery Energy Storage Systems

Retrieved on: 
Saturday, December 2, 2023
National Renewable Energy Laboratory, Rockefeller Foundation, International Energy Agency, SDG7, GLC, Conference, BESS, African Development Bank, Multilateralism, Asian Development Bank, AFD, Energy, Inter-American Development Bank, ADB, Infinity Power Chutes, NREL, Kingdom, COP29, Consortium, IDB, RMI, Climate, Partnership, Sustainable energy, GIZ, Economic development, World Bank, ESMAP, COP28, CO2, Renewable energy, Developing country

Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.

Key Points: 
  • Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.
  • In order to achieve the estimated 400 GW of renewable energy needed to alleviate energy poverty by 2030 and save a gigaton of CO2, 90 GW of storage capacity must be developed.
  • Battery Storage Systems are a critical element to increasing the reliability of grids and accommodating the variable renewable energy sources that are needed to power economic development.
  • The BESS Consortium is a multi-stakeholder partnership set up to ensure these BESS benefits transform energy systems across low- and middle-income countries (LMICs).

10+ Countries Join First-of-Its-Kind Consortium to Deploy 5 GW of Battery Energy Storage Systems

Retrieved on: 
Saturday, December 2, 2023
National Renewable Energy Laboratory, Rockefeller Foundation, International Energy Agency, SDG7, GLC, Conference, BESS, African Development Bank, Multilateralism, Asian Development Bank, AFD, Energy, Inter-American Development Bank, ADB, Infinity Power Chutes, NREL, Kingdom, COP29, Consortium, IDB, RMI, Climate, Partnership, Sustainable energy, GIZ, Economic development, World Bank, ESMAP, COP28, CO2, Renewable energy, Developing country

Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.

Key Points: 
  • Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.
  • In order to achieve the estimated 400 GW of renewable energy needed to alleviate energy poverty by 2030 and save a gigaton of CO2, 90 GW of storage capacity must be developed.
  • Battery Storage Systems are a critical element to increasing the reliability of grids and accommodating the variable renewable energy sources that are needed to power economic development.
  • The BESS Consortium is a multi-stakeholder partnership set up to ensure these BESS benefits transform energy systems across low- and middle-income countries (LMICs).