The International Energy Agency and the Asian Development Bank said they were committed to expanding their cooperation in the fields of energy security analysis, data and modelling, and clean energy technology.

The two international organizations formalized this agreement through a memorandum of understanding signed Wednesday by Dr Fatih Birol, the IEA’s executive director, and Takehiko Nakao, president of the ADB.

The agreement reflects the complementary nature of the goals and missions of both organizations, and seeks to bring the IEA’s unparalleled technical energy expertise, data and analysis together with the ADB’s extensive energy sector lending and financing programmes in Asia.

It also reflects the IEA’s strong commitment to working with key country partners in Asia, an area in which the Agency has had considerable recent success.

“The IEA and the ADB are natural partners in the pursuit of energy sector development in the Asia-Pacific region,” said Dr Birol. “Our partnership with the ADB is one part of our rapidly progressing strategy to engage deeply with key emerging economies in Asia.”

The IEA and the ADB will expand cooperation on energy technology assessments, energy data and statistics, energy efficiency, supply, demand and investment modelling, renewable energy deployment, and energy security analysis.

Dr Birol and President Nakao also discussed energy sector challenges and opportunities in Asia, noting the importance in particular of power sector development to meet growing demand and to tackle electrification challenges – an area in which both organizations have significant experience. – TradeArabia News Service