South Korea co-financing US$700m with ADB for climate and ICT projects
The Asian Development Bank (ADB) and the Republic of Korea have signed a memorandum of understanding earmarking US$700 million in co-financing from the Republic of Korea for ADB sovereign development projects over the next 3 years.
Deputy Prime Minister, Minister of Economy and Finance, and ADB Governor Hong Nam-Ki signed for the Republic of Korea, while President Masatsugu Asakawa signed for ADB.
Half of the earmarked amount—US$350 million—will cofinance projects through the Association of Southeast Asian Nations (ASEAN) Catalytic Green Finance Facility (ACGF), established in 2019 by ASEAN governments under the ASEAN Infrastructure Fund and managed by ADB. ACGF projects co-financed by the Republic of Korea will help governments in Southeast Asia implement infrastructure projects that promote environmental sustainability, including ocean health, and contribute to climate change goals.
Country updates
-
-
December 12, 2020
Hyundai Motor, partners to develop hydrogen refueling station project in Incheon
Hyundai has signed a a memorandum of understanding (MoU) with Incheon International Airport Corporation, Air Liquide Korea, and Hydrogen Energy Network to install a hydrogen refueling station for fuel...
Read more -
November 17, 2020
K-water awards 41 MW floating solar PV project development to Hanwha Q Cells
Korea Water Resources Corporation (K-water) has awarded Hanwha Q Cells the contract for the development of a 41 MW floating solar farm in Hapcheon, South Gyeongsang Province, South Korea. The project...
Read more -
September 11, 2020
GIB and Total partner to develop 2.3 GW floating offshore wind portfolio in Korea
Macquarie’s Green Investment Group (GIG) and global energy company Total have signed a series of agreements to co-develop an initial 2.3 GW portfolio of floating offshore wind projects in Korea....
Read more -
August 28, 2020
JA Solar equips PV portion of 133 MW South Korean wind-solar hybrid project
JA Solar has supplied modules for South Korea's largest mountainous photovoltaic power plant project, which is installed with a capacity of 93 MW and built on the ground of an existing 40 MW wind farm...
Read more -
May 11, 2020
Linde, Hyosung to build liquid hydrogen production plant facility in Ulsan
South Korean company Hyosung and German industrial gases group Linde have signed a partnership deal to develop a liquid hydrogen manufacturing facility project in Ulsan, South Korea that will be...
Read more
