ASEAN Member States Collaborates with UK and ESCAP through the ASEAN Green Investment Catalyst (AGIC)

ADMIN ADMIN

Bangkok, 12 December 2024 – “the ASEAN Green Investment Catalyst (AGIC)” was launched under the strategic partnership between ASEAN Member States, The UK Foreign, Commonwealth & Development Office (FCDO), the ASEAN Secretariat, and the United Nations Economic & Social Commission for Asia and the Pacific (ESCAP).  The initiative will mobilise £2.1 million of the ASEAN - UK Green Transition Fund to support ASEAN member States and the ASEAN Secretariat in implementing the ASEAN Regional Investment Promotion Action Plan (2024). The Action Plan is the region’s first coordinated approach on FDI attraction which focuses on green investment across value chains, a milestone for the region’s investment attraction effort for sustainable development.

Under the RIPAP implementation, AGIC will support the development of investment-ready projects in strategic green transition sectors across ASEAN for cross-border investors, deliver capacity building support to ASEAN Investment Promotion Agencies, and showcase green investment ready opportunities to investors such as through ASEAN Investment Forum platform among others.It will therefore help position ASEAN as a single investment destination for sustainable investment, while accelerating the region's green transition and inclusive economic growth. AGIC is also part of the implementation of the ASEAN-UK Plan of Action (2022-2026) which supports the region's sustainable development objectives among others.

For more information:

• AGIC Launch Event https://www.unescap.org/news/uk-and-escap-launch-new-initiative-accelerate-green-investment-southeast-asia
• ASEAN Regional Investment Promotion Action Plan https://asean.org/wp-content/uploads/2024/10/ASEAN-Regional-FDI-Investment-Promotion-Action-Plan-2025_AEM-document-with-cover.pdf
• UK Green Transition Fund https://www.ukpact.co.uk/regional-fund/asean-gtf