Over US$50bil Needed to Complete Asean Power Grid, Says Fadillah

Over US$50bil needed to complete Asean Power Grid, says Fadillah

The deputy prime minister says the existing financing support from international banks remains insufficient to complete the project.

Asean Power Grid needs over USD50b, banks’ USD12.5b “not enough”

By Shikin Louis KUCHING, Sept 4: Asean will require more than USD50 billion to fund its cross-border power grid and green projects, far exceeding the USD12.5 billion committed by the World Bank and Asian Development Bank (ADB). Deputy Prime Minister Dato Sri Fadillah Yusof said the World Bank has pledged USD2.5 billion while ADB has allocated USD10 billion, but described the total as insufficient for the scale of undersea cables and interconnect…