ADB Mulls Clean Energy

Asian countries still have some way to go in overcoming barriers to the development of renewable energy, said Asian Development Bank’s Pil-Bae Song, chair of the Manila-based lender’s energy committee.

High initial costs, technological risks and inadequate regulatory and policy frameworks are hurdles to growth in the region, Song told Clean Energy & Carbon Brief.

Q: Will new targets be set from 2012?

A: Now there’s a huge debate within ADB about what’s next. Our annual lending volume is subject to our capital, and we do have financial constraints. In 2007-2011, our annual lending volume averaged around $11-12 billion. Given the capital that we have, it’s highly unlikely that this average lending volume will be increased significantly for the foreseeable future

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