Asian Development Bank and Japan yesterday launched a new joint initiative aimed at helping countries and businesses across Asia and the Pacific cope with rising energy prices while accelerating the transition toward more resilient and sustainable energy systems.
ADB President Masato Kanda said countries in the region require support that addresses immediate economic pressures while also strengthening long-term energy resilience.
“With energy markets under strain, countries need support that addresses immediate pressures while laying the groundwork for long-term resilience,” he said, noting that Japan’s partnership would help businesses remain operational while supporting the shift toward stronger and more sustainable energy systems.
The initiative, named Action for Creating Energy Security for Long-term Resilience (ACCEL), was officially launched during the ADB Annual Meeting. It combines financial support and investment to help countries manage short-term energy shocks while building more secure energy systems for the future.
Japan’s Finance Minister Satsuki Katayama said the initiative would leverage Japan’s expertise and technology to support growth across Asia and the Pacific.
She added that ACCEL aims to assist small and medium-sized enterprises (SMEs) affected by the ongoing conflict while also promoting energy transformation in developing member countries.
Many of ADB’s developing member nations and their private sectors are currently facing significant challenges due to volatile fuel prices and supply constraints. SMEs have been particularly impacted by rising operational costs and tightening liquidity conditions.
Under ACCEL’s two-track strategy, the initiative will initially focus on supporting corporate liquidity, especially for SMEs, including through technical assistance. Over the medium to long term, it will support the transition toward diversified and sustainable energy systems to strengthen economic and energy resilience throughout the region.
Stallion Group has invested Rs. 400 million to acquire and relaunch ACAP, aiming to attract $100 million in foreign inflows into equities listed on the Colombo Stock Exchange
ACAP Stockbrokers has been re-launched under the backing of Stallion Group after nearly Rs. 400 million was deployed to acquire, recapitalise and restructure the brokerage, with plans to channel significant foreign investment into Sri Lanka’s equity market.
The brokerage was acquired for approximately Rs. 200 million, while an additional Rs. 150–200 million was invested to strengthen capital adequacy, rebuild compliance systems and restore trading operations. Although the acquisition was completed around five months ago, details were withheld until the restructuring process within the regulated environment was finalised.
The relaunch comes after a comprehensive overhaul of the company’s research capabilities, documentation standards and internal systems, alongside the appointment of a new execution team.
Malik Fernando said the company focused on rebuilding institutional strength before re-entering the market.
“We took our time to study the business and build an experienced team with the relevant research capability,” he said.
Meanwhile, Stefan Abeysinghe revealed that the firm is targeting $100 million in foreign inflows over the next two years, focusing on high-net-worth investors in Switzerland, Austria, Japan and Australia, where the group has built long-standing investor relationships.
“We have worked with investors in these markets for over 15 years and raised hundreds of millions into private equity. What we want to do now is direct that capital into listed equities in Sri Lanka,” he said.
The strategy involves attracting allocations of roughly $1 million per investor account and directing funds into around 40 listed companies with strong foreign currency earnings potential.
According to Abeysinghe, the relatively modest size of the Colombo Stock Exchange — estimated at around Rs. 8.5 trillion — means even moderate foreign inflows could have a meaningful impact on market valuations.
Asian Development Bank and Japan have launched a joint initiative aimed at supporting businesses and strengthening energy security across Asia and the Pacific
