What is the fund?

The fund was established under the Regional Cooperation and Integration Financing Partnership Facility (RCIFPF) in 2008 to help address the challenges of promoting investment and tackling climate change through energy efficiency. ICFF is one of the pillars under the Enhanced Sustainable Development for Asia (ESDA) initiative which supports the efforts of ADB and its (developing member countries) DMCs to overcome these challenges.

What are the priorities?

The ICFF’s objective is to finance activities supported by ADB, including technical assistance and grant provision to investment projects that promote investments in DMCs and facilitate regional cooperation and integration through construction of basic infrastructure, facilitation of investment climate, capacity building, and promotion of good governance.

What kind of activities will be financed from the fund?

Funding priority will be given to projects that promote financial sector development and regional investment. Examples are projects that:

• aim to improve financial regulatory and supervisory frameworks
• mitigate risks in financial markets
• harmonize regional investment policies
• streamline procedures for investment applications and approvals

Likewise, projects that will promote the visibility of ICFF as well as those which will be implemented in cooperation with Japanese aid agencies.

Who is eligible to receive the grant?

All DMCs are eligible for support from ICFF.

Who supports the fund?

The Government of Japan supports the fund with an initial contribution of $11.5 million. Total ICFF funds made available up to 31 December 2011 amounted to approximately $32.2 million.