Poverty Reduction Cooperation Fund (PRF)
What is the fund?
The PRF was established in July 2002 to assist ADB in reducing poverty in its developing member countries (DMCs).
What are the priorities?
The PRF augments ADB’s efforts for poverty reduction and, as a result:
- assists in policy dialogue and strategy formulation on poverty reduction
- develops new programs and projects with increased focus on poverty reduction
- monitors and assesses the poverty reduction impact at the project, meso-, and macro-levels
- launches pilot poverty reduction activities to influence future loan design
- involves broader stakeholder consultations at all stages of design and implementation; strengthens ADB’s role as the regional development bank for Asia and the Pacific to promote poverty reduction
- helps perform other activities as mutually agreed upon between Department for International Development of the Government of the United Kingdom of Great Britain and Northern Ireland (DFID) and ADB.
What kind of activities will be financed from the fund?
The PRF was established to support the following activities:
- technical assistance (TA) for capacity and institution building
- provision of advisory inputs
- thematic and sector work
- monitoring, evaluation, and impact assessment
- public conferences, workshops, and other events
- innovative activities such as micro and pilot projects, with clear demonstration effects
- supporting national experts based in ADB’s resident missions (RMs) working on poverty analysis, and poverty-related gender, stakeholder participation, and governance issues
- outreach and communication
- administrative costs of fund management.
Who is eligible to receive the grant?
The PRF is open to ADB’s DMCs classified as A, B1, or B2 countries, excluding India for which there is a separate DFID fund (according to ADB’s classification for its DMCs as of 9 January 2003):
- Group A comprises Afghanistan, Bhutan, Cambodia, Kiribati, Kyrgyz Republic, Lao People’s Democratic Republic, Maldives, Mongolia, Myanmar, Nepal, Samoa, Solomon Islands, Tajikistan, Tuvalu, and Vanuatu
- Group B1 comprises Azerbaijan, Bangladesh, Cook Islands, Federated States of Micronesia, Pakistan, Republic of Marshall Islands, Sri Lanka, Tonga, and Viet Nam
- Group B2 comprises PRC, India, Indonesia, Nauru, and Papua New Guinea.)
Who supports the fund?
Department for International Development of the United Kingdom of Great Britain and Northern Ireland (DFID) supports the fund.