The new technical assistance program will delve into the repercussions of rising temperatures, identifying policies, actions, and investments that can alleviate the disproportionate impacts on women and girls.
ADB President Masatsugu Asakawa highlighted the significance of nature as a crucial carbon sink, with ecosystems absorbing approximately 55 per cent of carbon dioxide emissions.
As per ADB, this initiative, focused on capital markets and private capital sources, aligns with ADB's commitment to combat climate change and protect the region's biodiversity.
According to ADB, this move comes as the region faces accelerated warming, with projections indicating that 75 per cent of glaciers in Bhutan and Nepal could melt by the end of the century if global temperatures rise by 3°C.
According to a release by ADB, the project hailed as a key step towards Uttarakhand's goal of providing uninterrupted power and transitioning to clean energy, received acclaim from ADB Senior Energy Specialist Jaimes Kolantharaj.
The report sheds light on the repercussions of elevated US interest rates on government bond yields across the region, emphasizing the potential challenges and opportunities in the emerging markets.
ADB posted on X, "Women make up only 20 per cent of the global energy workforce. However, the anticipated job surge resulting from a green transition could create a unique opportunity for women to enter traditionally male-dominated sectors".
According to ADB, the funding package, consisting of a USD 125 million loan from ADB and an agreement to syndicate an additional USD 125 million in cofinancing from other development partners, underscores the commitment to supporting sectors vital to India's rural landscape.
The Asian Development Bank (ADB) has approved a loan package worth USD 500 million to improve access to quality and affordable tertiary health care and medical education in Maharashtra.
According to ADB, this move is expected to play a pivotal role in elevating urban living standards, ensuring clean water access, and bolstering climate resilience.