INSTANT NEWS RECAP | APAC: ADB and JICA Collaborate

13/12/23

ADB and JICA Collaborate on Asia-Pacific Infrastructure Fund Launch

The Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) have collaborated to launch the Leading Asia's Private Infrastructure Fund 2 (LEAP 2), with a capital infusion of up to $1.5 billion from JICA. Acting as a fund manager and administrator, ADB aims to boost private infrastructure in the Asia-Pacific, countering China's increasing influence. LEAP 2 succeeded its predecessor, LEAP, operational from March 2016 to August 2023. This new fund will focus on projects in India, Indonesia, Uzbekistan, and Vietnam, emphasising carbon reduction, healthcare, and education. LEAP, with over $1 billion in co-financing, supported 35 projects, creating 1.4 gigawatts of electricity and 7,285 jobs across 14 developing countries.

INSTANT NEWS RECAP | APAC: INDONESIA

 05/12/23

Indonesia rescue team evacuate a victim of the eruption of Mount Marapi in Agam, West Sumatra province, Indonesia. (Reuters)

Indonesia: 11 Climbers Presumed Dead After Mount Merapi Explosion

On Sunday, Mount Merapi, which is located on the island of Sumatra, erupted, sending a column of ash 3,000 meters high into the sky and dumping volcanic debris upon nearby settlements. Following the initial eruption on Sunday, almost fifty climbers were saved, while eleven more were initially deemed dead. Monday saw another eruption that briefly stopped search efforts and released a fresh rush of scorching ash up to 800 meters into the sky.