Financial Daily from THE HINDU group of publications
Friday, Mar 10, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 10, 2006 |
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Industry & Economy
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Power ADB plans major energy efficiency initiative Our Bureau
WORLD CLASS: The Asian Development Bank President, Mr Haruhiko Kuroda (centre) being shown around the facilities at the Hyderabad International Convention Centre at Cyberabad on Thursday, where the ADB will hold its annual general meeting in May. — Sivakumar P.V.
Hyderabad , March 9 With a crisis in the energy sector looming large over developing countries in Asia, the Asian Development Bank (ADB) has decided to launch a major energy efficiency initiative of $1 billion. According to the ADB President, Mr Haruhiko Kuroda, given the exponential growth in demand , energy is going to be a major challenge in the coming years. The initiative is being launched to help growing economies in Asia meet their energy demands efficiently and minimise the impact on the environment. "A crisis in the energy sector will have an impact on the sector as well as the economy and environment," Mr Kuroda said. Energy efficiency programme was one of the measures planned by the bank under the Kyoto protocol. Responding to queries after delivering a lecture on infrastructure investments at the Administrative Staff College of India (ASCI) here on Thursday, the ADB chief said water was another area of concern that needed to be addressed. Almost 75 per cent of the available water was being consumed by farm production, which had to be brought down to improve the situation. "But, advances in agricultural technology are yet to come out with ways to reduce water consumption," he said adding that the ADB would double its efforts for promoting initiatives on water conservation.
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