Malaysia to allocate 430 million USD for energy transition
Malaysia will allocate 2 billion ringgit (430 million USD) to a National Energy Transition Facility to enable catalytic blended finance, Prime Minister Anwar Ibrahim announced on August 29.
Malaysian Prime Minister Anwar Ibrahim (Source: voi.id)
Kuala Lumpur (VNA) - Malaysia will allocate 2billion ringgit (430 million USD) to a National Energy Transition Facility toenable catalytic blended finance, Prime Minister Anwar Ibrahim announced onAugust 29.
Speaking at an event to launch the second phase of theNational Energy Transition Roadmap, Anwar said the facility will enablecatalytic blended finance to ensure a seamless flow of financial resourcestowards energy transition projects that are marginally bankable or yieldingbelow-market returns.
Considering Malaysia's current state of immature decarbonisationtechnologies, the country's progress will significantly depend on alternativeenergy sources and robust regional and international collaboration, he stated.
As the paramount challenge in energy transition isfinancing, it is estimated that an investment of at least 1.2 trillion ringgitbetween 2023 and 2050 is needed to enable responsible energy transition, Anwarsaid.
He added that 60 billion-90 billion ringgit is needed to beallocated for crucial projects, including the expansion of publictransportation, strengthening grid infrastructure, and reskilling of humancapital, in this decade alone.
The government will launch a major retrofit programme toenhance energy efficiency in government buildings, he added./.
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Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
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Malaysian Prime Minister Anwar Ibrahim (Source: voi.id) 
