The Asian Development Bank (ADB) and the Agence Française de Développement (AFD) signed the amended Framework Cofinancing Agreement at the Annual Meeting in Delhi.
Under the renewed framework, ADB and AFD will each significantly increase the amount made available for loan cofinancing from $0.6 billion to $1.3 billion over the next three years. Both institutions will continue to work closely together in identifying, selecting, and operating development projects in Southeast Asia, South Asia and Central and West Asia. Priority sectors include, but are not limited to: (i) infrastructure and sustainable urban development; (ii) sustainable management of natural resources; (iii) education and vocational training; (iv) support for productive sectors such as agriculture; and (v) tackling climate change issues.
$1.3 billion over three years.