ASIATODAY.ID, JAKARTA – The Indo-Pacific Economic Framework for Prosperity (IPEF) announced priority projects worth US$ 23 billion as investment opportunities in sustainable infrastructure projects.
Quoted from a press release from the US Embassy in Jakarta on Friday, June 7 2024, IPEF partners brought together various stakeholders from throughout the United States (US) and the Indo-Pacific Region in the IPEF Clean Economy Investor Forum.
US Secretary of Commerce Gina Raimondo along with 22 US companies participated in the first IPEF Clean Economy Investor Forum.
“At the Clean Economy Investor Forum, we announced investment opportunities of US$23 billion for sustainable infrastructure projects in the region,” explained Raimondo.
The event was held to gain insight into the market, build networks with industry and government contacts, business strategies and identify funding opportunities as further steps to achieve the goals of the Clean Economy Agreement.
It was also explained that this inaugural forum was like the Catalytic Capital Fund, which is one of the innovative tools formed under IPEF, namely the Clean Economy Agreement.
This effort is being made to further mobilize climate investment in the region and encourage the sharing of expertise and good practices, to increase clean investment.
Raimondo explained that the US has exceeded IPEF’s Skills Upscaling Initiative commitment to provide 7 million upskilling opportunities through digital skills training and education to IPEF’s developing countries and middle-income partners.
Meanwhile, these partners include Brunei Darussalam, Fiji, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam.
He also said that his party launched the IPEF Catalyst Capital Fund which is already operational and can provide support for project preparation, to expand the pipeline of climate infrastructure projects that can be funded by banks.
“And this is just the beginning of the benefits that will flow from IPEF and shows how IPEF can provide real benefits through this new model of economic cooperation,” he said.
Raimondo hopes that this progress can continue, as the next meeting takes place in September 2024. (ATN)
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