ADB and Japan Launch ACCEL Energy Security Program

Tashkent, Uzbekistan (UzDaily.com) — The Asian Development Bank (ADB), in cooperation with the Government of Japan, has announced the launch of a new initiative aimed at strengthening energy security and supporting countries and businesses across Asia and the Pacific facing rising energy prices and supply instability.

The initiative, titled Action for Creating Energy Security for Long-term Resilience (ACCEL), was presented during the ADB Annual Meeting. It is designed to both mitigate short-term economic shocks and build resilient energy systems over the long term.

ADB President Masato Kanda said the current energy market environment requires solutions that not only respond to crises but also lay the foundation for future resilience. He noted that cooperation with Japan will enhance support for businesses in the region and accelerate the energy transition.

Japanese Finance Minister Satsuki Katayama said the initiative aims to leverage Japanese technology and expertise to support sustainable development in the region. Special emphasis will be placed on small and medium-sized enterprises, which are most vulnerable to rising energy costs and tighter liquidity conditions.

The ACCEL program will be implemented through two main tracks. In the short term, it will provide liquidity support to businesses, including SMEs, as well as technical assistance. In the longer term, the initiative will focus on developing diversified and resilient energy systems, including expanding renewable energy and improving energy efficiency.

ADB plans to deploy existing financial instruments such as credit lines through financial intermediaries, guarantees, and policy-based loans to support companies with high financing needs and improve business conditions. These measures are expected to help preserve jobs and maintain economic stability in the region.

Japan will support the implementation of ACCEL through trust funds managed by ADB, as well as through technical and expert assistance. Coordination with the Japan International Cooperation Agency (JICA) and the Japan Bank for International Cooperation (JBIC) is also planned to enhance project effectiveness.

Further details on specific projects and implementation mechanisms will be announced at a later stage.