SINGAPORE, Oct. 1 (Xinhua) -- Singapore and the World Bank Group on Thursday launched a three-year partnership to help strengthen the regulatory, institutional and financing frameworks needed to advance cross-border electricity trade under the ASEAN Power Grid.
The partnership will address issues including cross-border wheeling arrangements, while supporting regional cooperation, capacity building and knowledge exchange among ASEAN member states, the parties said in a statement.
The partnership will draw on the World Bank Group's expertise in infrastructure financing, energy markets and regional power trade, said the statement.
Conran Chia, director of energy partnerships at Singapore's Ministry of Energy, Trade and Industry, said there was strong interest from the financing community in participating in the ASEAN Power Grid, but regulatory and other bankability hurdles needed to be addressed. ■