Austria

Austria’s development assistance is felt through its support for the urban and water sectors and knowledge exchange with ADB via the provision of experts as secondees. ADB collaborates with Austria through the Federal Ministry of Finance (MOF) and the Federal Ministry for Europe, Integration and Foreign Affairs (FMEIA). MOF is responsible for budgetary planning, economic policy and financial services, and customs and taxation, among other things. The FMEIA is responsible for the strategic planning and alignment of the Austrian Development Cooperation.

At a Glance

Cumulative Project-Specific Cofinancing

$15.2 million

  

Cumulative Trust Funds Contribution

$11 million

  

2020 Project-Specific Cofinancing

  • $1.9 million

The Austrian Development Agency is an operational unit of the Austrian Development Cooperation under the FMEIA. It implements Austrian development cooperation strategy and programs, manages bilateral development cooperation budget, undertakes policy dialogue in Austria and partner countries, and advises the FMEIA.

Austria works with ADB on education, ensuring peace, human security, human rights, migration, water, energy, food security, and private sector development. Austria’s priority countries are Armenia (agriculture and good governance); Bhutan (energy, tourism, and good governance); and Georgia (forestry agriculture and good governance).

Over the years, ADB’s Trade Finance Program (TFP) has supported 79 Austrian export and import transactions (through Austrian and non-Austrian banks) to developing Asia valued at over $33.6 million as of December 2020. Exports and imports were to nine countries, but mostly to Armenia, Bangladesh, and Georgia. Isolating TFP’s work with Austrian banks, the TFP works with seven banks domiciled in Austria and has provided guarantees supporting $207.5 million in trade in over 313 transactions. The program has mobilized $1 million in cofinancing with banks domiciled in Austria. This cofinancing helps leverage ADB resources and brings more support for developing members.

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