The Asian Development Bank gave a statement in response to the coverage of a press conference in which the multilateral development bank was accused of locking Bangladesh in costly fossil fuels.
The press conference was held on April 22 by NGO Forum on ADB and the Coastal Livelihood and Environmental Action Network.
Contrary to recent media reports, the statement said that the ADB applied rigorous environmental and social safeguards to all projects.
鈥楨very investment undergoes classification, due diligence, and public disclosure in accordance with the ADB Safeguard Policy Statement 2009 and no project is approved without meeting these standards,鈥� the statement said.
鈥楾he ADB supports universal access to reliable and affordable energy services while promoting low-carbon transition in the region,鈥� the statement said, adding that since Bangladesh became a member of the ADB in 1973, ADB has been supporting the country鈥檚 projects and programmes to expand energy access, reliability, and sustainability.
鈥楢DB鈥檚 investments in energy have always been aligned with Bangladesh鈥檚 national development priorities and ADB鈥檚 energy policy at the time of project approval,鈥� the statement added.
The statement recalled ADB鈥檚 past investments in gas-based infrastructure to address energy shortfalls to support Bangladesh鈥檚 development.
鈥極ver the decades, ADB-supported projects have contributed substantially to the expansion and modernisation of Bangladesh鈥檚 power and gas systems, resulting in near-universal electricity access, elimination of blackouts due to generation shortages, and improved power quality and reliability,鈥� the statement said.
ADB prioritises energy sector reforms and helps strengthen energy sector institutions to improve their planning capacity.听
The press conference featured two keynote paper presentations.
One of them, citing ADB released data, said that about 83 per cent of the investments by the ADB in electricity generation since 1973 went into building 28 fossil fuel-based power plants worth 2,884.8MW.
Only 2.55 per cent of the investment was directed to solar energy.
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