Expanded climate finance ambition is a key element of ADB’s efforts to support its Developing Member Countries (DMCs). In 2018, ADB committed to ensuring at least 75% of the total number of its operations support climate action and its own climate finance resources reach at least a cumulative $100 billion by 2030. There are currently 18 funds managed by the ADB with transportation priorities. Two funding windows that focus on additionality-based climate financing are listed below. A document with all 18 funds is linked at the end of the article.
Climate Change Fund (CCF)
Basic information
Created in 2008
Accelerates investment in low-carbon and climate resilient development in developing member countries (DMCs) to mitigate and adapt to climate change
Key role in mainstreaming climate actions in ADB
Priority areas
Adaptation
Clean energy, sustainable transport and low-carbon urban development
Reduced emission from deforestation and degradation and improved land use management (REDD+)
Financing instruments
Grant component of investments
Technical assistance (stand-alone and piggy-back or linked to loan)
Direct charge
Supported activities
Preparation of relevant strategies or action plans for DMCs
Investment in climate change mitigation or adaptation measures
Development of knowledge products and services related to climate change
Facilitating knowledge management activities, including regional conferences and workshops
Funding to off-set ADB’s corporate carbon footprint
All Developing Member Countries (DMCs) of ADB are eligible to receive funding from the CCF.
Application process
Submission of project proposals by ADB user departments to the Climate Change Steering Committee (CCSC) through the fund secretariat
Review of project proposals and recommendations on applications for fund allocation to CCSC by corresponding working groups
Review of applications on six dates: 31 January, 31 March, 31 May, 31, July, 30 September and 30 November (review of direct charge applications on ongoing basis)
Sources and more information: Climate Change Fund (CCF)
ASEAN Catalytic Green Finance Facility (ACGF)
Basic information
ASEAN Infrastructure Fund initiative targeted at governments in Southeast Asia
Launched in April 2019
Owned by the finance ministries of the 10 ASEAN member countries
Cofinancing partners: ADB, AFD; AIF; EIB, EU, KfW and the Republic of Korea
Preparing and financing infrastructure projects that advance environmental sustainability and contribute to climate targets
Providing technical assistance and access to loans from co-financing partners to cover upfront capital investment costs (de-risking)
Strategy
Project origination
Identification and screening of infrastructure projects
Creation of project pipeline
Development of project financing models
Project funding
De-risking projects using AIF funds
Mobilising co-financing from development partners
Catalysing private sector investment
Policy and knowledge support
Green finance trainings
Investor roundtable events
policy advice and knowledge resources
Priority areas
renewable energy and energy efficiency
sustainable urban transport
water supply and sanitation
waste management
climate resilient agriculture
Financing instruments
Co-financing in form of loans from the ASEAN Infrastructure Fund (AIF)
