Jose Carlos Pereira: Asia-Pacific region needs large-scale financing for renewable energy

The Asia-Pacific region is experiencing a pressing need for large-scale financing for the renewable energy sector, Acting Alternate Governor for Portugal in the ADB, Jose Carlos Pereira, said during the Governors' Business Session, which is being held as part of the 59th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), Report informs.

"I would like to draw attention to the region's significant need for financial resources to develop renewable energy to ensure energy security and affordability, a priority that the recent crisis has clearly demonstrated.

It is also essential to promote the development of integrated and sustainable energy systems and improved energy efficiency.

We welcome the expansion of the bank's activities in this area, and the fact that ADB's climate ambitions remain a key element of its work," Pereira noted.