BSS-57 USAID to provide more than US$28m for SA’s energy market

848

ZCZC

BSS-57

US-SA-ENERGY

USAID to provide more than US$28m for SA’s energy market

DHAKA, Oct 28, 2020 (BSS) – US Agency for International Development
(USAID) today announced new activities valued at more than 28 million
US dollar to advance regional energy markets in South Asia.

US acting assistant administrator for Asia Javier Piedra announced
it at the Indo-Pacific Business Forum hosted virtually by Vietnam, a
USAID press release said here.

“The US government’s activities will improve access to affordable,
secure, reliable, and sustainable energy through the advancement of
expanded, transparent, and efficient regional energy markets,” it
said.

The new investments by USAID and other parts of the US government
will help the people of South Asia grapple with the new opportunities
and challenges brought on by advanced energy technologies.

The private sector is central to these challenges, which include
limited access to private capital, minimal private-sector engagement
across the energy supply-chain, and few transparent and open energy
markets, the release added.

The assistance advances the U.S. government’s Asia EDGE (Enhancing
Development and Growth through Energy) initiative, which works to
strengthen energy security and expand access to energy across the
Indo-Pacific region.

Under Asia EDGE, USAID’s funding to develop a competitive regional
power market in South Asia has led to transformative policy changes
that have increased the trade in power in the region by 3,500
megawatts, which is equivalent to the electricity used by 2.3 million
households.

BSS/TA/MRU/2135hrs