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US announces $1.5 billion financing push to build Indo-Pacific energy links
The funding comes from the International Development Finance Corporation and was announced during Secretary of State Marco Rubio’s Manila visit.
The United States has announced US$1.5 billion in financing through the International Development Finance Corporation to support energy infrastructure across the Indo-Pacific, positioning Washington as a preferred partner for Southeast Asian energy projects amid rising supply-shock concerns tied to turmoil linked to the Iran war, according to SCMP Economy.
The project, described by the agency as the largest investment in its history, was unveiled on July 22 during US Secretary of State Marco Rubio’s visit to Manila for the Association of Southeast Asian Nations foreign ministers meeting.
In addition to the US$1.5 billion, the US committed to invest US$2.5 billion across other areas including energy security and future technologies, also tied to the broader effort to strengthen regional resilience.
At a virtual briefing, US ambassador Kevin Kim said the US aims to work with ASEAN as it develops its digital economy and bolsters energy security, framing the move around preserving stability and security as regional challenges continue.