The Asian Development Bank (ADB) and Japan have launched a new Asia-Pacific initiative aimed at helping businesses manage surging energy costs while accelerating the shift to more resilient and sustainable energy systems across the region.

Unveiled on the sidelines of the ADB Annual Meeting in Samarkand held from May 3-6, 2026, the Action for Creating Energy Security for Long-term Resilience (ACCEL) program is positioned as a dual-track mechanism that combines near-term financial relief with longer-term energy transition support.

“With energy markets under strain, countries need support that addresses immediate pressures while laying the groundwork for long-term resilience,” said ADB president Masato Kanda. “We are grateful for Japan’s partnership in advancing this initiative, which will help businesses in our region stay afloat today while supporting the transition to stronger and more sustainable energy systems.”

The initiative comes as developing member countries—and their private sectors—grapple with fuel price volatility, supply constraints, and tighter liquidity conditions. Small and medium-sized enterprises (SMEs) have been particularly exposed, facing rising operating costs that threaten business continuity and employment.

Under ACCEL’s short-term track, ADB will deploy existing financing instruments including financial intermediation loans, credit lines, guarantees, and policy-based loans to ease liquidity pressures on firms, particularly SMEs. Technical assistance will also be extended to help businesses navigate ongoing market disruptions.

Over the medium to long term, the program will channel investment into energy system transformation, including renewable energy, energy efficiency, and conservation projects aimed at improving supply diversity and system stability.

“Under ACCEL, we expect to leverage Japan’s knowledge and technology to contribute to enhanced growth across the Asia and Pacific region,” said Satsuki Katayama, Japan’s Finance Minister. “This initiative aims to support SMEs affected by the conflict, while promoting the transformation of energy structures in developing member countries. Japan will continue to work closely with ADB to advance crisis response efforts.”

Japan will support the initiative through ADB-administered trust funds, helping accelerate project preparation and implementation while embedding Japanese technology and expertise. 

Coordination with institutions such as the Japan International Cooperation Agency (JICA) and the Japan Bank for International Cooperation (JBIC) is also expected to strengthen financing synergies and expand development impact.

ADB said further details on specific operations under ACCEL will be announced in due course, with financing to be deployed based on country demand.

How relevant is ACCEL to the Philippines’ current power cost pressures and energy transition pipeline? Share your insights.

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