The World Bank has announced a regional initiative to support the decarbonisation of the power sector across East Asia and the Pacific through its multiphase programmatic approach (MPA).
The initiative aims to scale up renewable energy deployment and strengthen institutional and policy frameworks in participating countries. The MPA will remain active until 2034 and provides USD2.5 billion in financing through the International Development Association and International Bank for Reconstruction and Development. It supports national and regional transmission infrastructure, policy development, and de-risking mechanisms to facilitate private sector investment in clean energy. Participating countries can select customised activities to meet national development goals while contributing to a broader regional decarbonisation strategy. The programme promotes learning, innovation, and phased adaptation.