Singapore and World Bank ink 3-year partnership targeting power trade gaps

The deal covers capacity building and knowledge sharing for members.

The Ministry of Energy, Trade and Industry, the Ministry of Finance (MOF), and the World Bank Group have launched a three-year ASEAN Power Grid Mobilisation Partnership (AMP) between Singapore and the World Bank.

The partnership will support cross-border electricity trade by strengthening regulatory, institutional and financing frameworks, including arrangements for cross-border wheeling, the groups said.

It will also promote regional cooperation, capacity building, and knowledge sharing amongst ASEAN member states.

Alvin Lim, MOF director-general, said the AMP will enable the region’s energy transition, address gaps in project implementation, and improve project bankability.

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