(MENAFN- Trend News Agency) TBILISI, Georgia, May 3. ADB (Asian DevelopmentBank) supports Kazakhstan's strategy to achieve carbon neutralityby 2060, President, Chairman of the Board of Directors of ADBMasatsugu Asakawa said during a briefing on the sidelines of thebank's 57th annual meeting in Tbilisi, Trend reports.
"Countries must fast switch to 'green' energy and eliminatefossil fuels to meet our goals. Due to Kazakhstan'senergy-intensive economy and fossil fuel dependence, the ADBsupports the government's 2060 carbon neutrality strategy," heemphasized.
According to him, the so-called ETM (The Energy TransitionMechanism), which aims to initiate a safe and economicallyefficient phased transition away from coal-fired power plants andtowards environmentally friendly energy, has been decisivelysupported by the government of Kazakhstan.
To note, Kazakhstan joined the ADB in 1994. Since then, the ADBhas allocated approximately $7 billion in the form of governmentand private sector loans, grants, and technical assistance.
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