Filipino lender The Asian Development Bank (ADB) plans to provide a $12.2 million funding for renewable energy (RE) projects under the Pacific Renewable Energy Investment Facility (PREIF).

The funding is anticipated to help develop renewable energy projects in Tonga, to advance energy security and decrease carbon emissions in the country.

ADB said that the project will reduce the country’s dependency on imported fossil fuel for power generation.

Moreso, the company is also expected to provide grants amounting to $29.9 million from the Green Climate Fund and $2.5 million provided by the Government of Australia for the project.