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Finance

World Bank eyes Central Asia to expand renewable energy project

Ajay Banga believes Donald Trump realizes need for development finance

World Bank President Ajay Banga says more private sector investment is required to fund renewable energy projects. (Photo by Sayumi Take)

TOKYO -- The World Bank is looking into expanding a new project that aims to diversify renewable energy supply chains in Central Asia and Latin America, President Ajay Banga told reporters Monday.

Together with Japan, the multilateral lender launched the Resilient and Inclusive Supply-chain Enhancement initiative last October. The initiative aims to help emerging economies that produce critical minerals used in batteries, solar panels and other green equipment to build capacity by offering them financial and technological assistance.

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