ADB Announces USD 2 Million Grant for Climate-Smart Agriculture and USD 50 Million to Renewable Energy Company

Feb 2021

The Asian Development Bank (ADB) and the Government of Thailand recently announced a USD 2 million technical assistance grant to help promote the adoption of climate-smart agriculture in the highlands of northern Thailand. The technical assistance grant, funded by the Japan Fund for Poverty Reduction, will help familiarize local highland farmers with climate-resilient practices and technologies. The grant will also help Thailand’s government to identify opportunities for value-added agri-foods and improve market connectivity.

In a separate project, the ADB recently agreed to provide Thailand’s renewable energy company Energy Absolute with USD 50 million in funding for solar, wind, and electric vehicle (EV) projects. Specifically, the loan will finance the Nakornsawan Solar and Hanuman Wind power plants and deploy fast and standard chargers at charging stations across Thailand. This green loan is the first climate loan in Thailand to be certified by the Climate Bond Initiative, which administers the international Climate Bond Standards and Certification Scheme.

(Sources: ADB; Renewables Now)