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US Assistant Secretary of State for Energy Resources Francis Fannon will announce a $50 million US foreign aid grant to strengthen energy security in Asia during a three-day conference in Singapore that began on Monday, the Department of State announced in a press release.
WASHINGTON (UrduPoint News / Sputnik – 29th October, 2018) US Assistant Secretary of State for Energy Resources Francis Fannon will announce a $50 million US foreign aid grant to strengthen energy security in Asia during a three-day conference in Singapore that began on Monday, the Department of State announced in a press release.
Fannon will promote an initiative titled Enhancing Development and Growth Through Energy (EDGE), the release explained.
“Under Asia EDGE, the Department of State and USAID [Agency for International Development] will contribute an initial investment of nearly $50 million to a whole-of-government approach to strengthen energy security and catalyze regional growth,” the release stated.
Through Asia EDGE, the US will provide technical assistance to help partner governments develop their energy markets, modernize energy infrastructure, and set transparent best-management practices, the release noted.
During the visit, Fannon will meet with energy ministers from the ASEAN (Association of Southeast Asian Nations) member states, as well as the US-Asian business Council, according to the release.
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