Cofinancing operations enable ADB's financing partners, governments or their agencies, multilateral financing institutions, and commercial organizations, to participate in the financing of ADB projects. The additional funds are provided in the form of official loans and grants, and commercial financing, such as B loans, risk transfer arrangements, parallel loans, and cofinancing for transactions under ADB's Trade Finance Program (TFP).
By the end of 2012, cumulative direct value-added official cofinancing for Armenia amounted to $0.5 million for one technical assistance project.
|Cofinancing||No. of Projects||
|Technical Assistance Grants||1||0.50|
|Type of Cofinancingb|
|Armenia International Airports (ArIA)||40.00||80.00||C|
|Trade Finance Programc||4,566.02||17.45||C|
a Loan, grant or blend.
b C = commercial cofinancing.
c The $1 billion limit for ADB's Regional Trade Finance Program (TFP) approved by the Board of Directors in 2009 is the maximum exposure TFP can assume at any one point in time. This limit has never been breached. Because maturities under TFP transactions tend to be short - on average less than 180 days - TFP exposure can revolve (be re-used) within a year. This explains how TFP's exposure from 2009-2012 was greater than its $1 billion limit without actually breaching the limit at any one point in time.