ADB Project Readiness Improvement Fund [NDF C90]
The objective of the Fund is to enhance the readiness of investment projects related to climate change by ensuring that the planning and preparation of infrastructure projects is properly funded, and to focus on critical aspects related to climate change.
ADB Project Readiness Improvement Fund
Ref. NDF C90
NDF grant EUR 7 million
Project Period: 2016—2020
Partner Agency: Asian Development Bank (ADB)
Implementing Agency: ADB
The NDF financing will set up the Project Readiness Improvement (PRI) Fund at the ADB. The objective of the Fund is to enhance the readiness of investment projects related to climate change by ensuring that the planning and preparation of infrastructure projects is properly funded, and to focus on critical aspects related to climate change.
The PRI Fund will help eligible ADB Developing Member Countries (DMC) build a pipeline of well-prepared, technically sound, climate change responsive investment projects and achieve full and timely project results.
Projects, which from the outset have taken advanced actions in terms of design preparation and where climate change has been factored into the design, are more likely to be implemented on time, achieve the expected outcomes and leverage additional investment.
This is a new fund within ADB, developed by NDF and ADB. The Fund will be administered by the Southeast Asia Department (SERD). The PRI Fund will be set up as a multidonor trust fund, with the intention to attract additional donors.
The PRI Fund will support project preparatory related TAs and direct charges, and any other activities agreed between the donors and ADB, to help ensure that: (i) project readiness is improved and project start-up delays are reduced so that activities under ensuing investment projects are implemented as planned and within a reasonable time frame; and (ii) climate change is appropriately addressed in the design of ensuing investment projects, i.e., the designs respond to the expected climate change impacts in the project area.
The following outcomes are expected
Improved project readiness for ADB climate responsive infrastructure investments;
Strengthened climate change responsiveness of ADB financed infrastructure investments; and
Enhanced capacity among relevant stakeholders (clients, ADB staff etc.) to prepare climate-resilient and/or mitigating infrastructure projects.
NDF is providing EUR 7 million in grant funding. NDF is the only donor at this point, but the Fund is being set up as a multidonor trust fund to encourage other donors.
Program Manager Aleksi Lumijärvi
Telephone +358 10 618 002