Japan

In December 2015, ADB and JICA signed a Memorandum of Understanding (MOU) for Strategic Partnership for Sustainable and Inclusive Development through Promotion of Quality Infrastructure Investment in Asia and the Pacific. Under this partnership, ADB and JICA established the Leading Asia’s Private Sector Infrastructure Fund (LEAP) and promoted quality public infrastructure development in the region through a total of $10 billion in cofinancing. In May 2017, ADB and JICA also signed an MOU for Strategic Partnership for Sustainable, Resilient, and Inclusive Development through Strengthening Health Security and Promotion of Universal Health Coverage in Asia and the Pacific.

Since 2000, the Government of Japan has contributed annually to the Japan Fund for Poverty Reduction (JFPR), the primary vehicle for Japan’s project grant assistance through ADB. By 2010, JFPR’s scope was expanded to include technical assistance (TA) projects. Total contributions as of 31 December 2020 amounted to $930.6 million, comprising 200 grant projects (equivalent to $589 million) and 287 JFPR TA projects (equivalent to $367.6 million) that had been signed. In 2020, the COVID-19 Window was created under the JFPR to help ADB member countries strengthen their capacity to contain the spread of COVID-19, with $75 million made available. As of year-end, two TA projects (equivalent to $4 million) had been signed. The JFPR, the largest single-partner trust fund supporting poverty reduction and related social development activities, aligns with and contributes to achieving ADB’s development priorities in the region.

In addition, Japan provides scholarships under the Japan Scholarship Program (ADB-JSP), established in 1988 to provide well-qualified citizens of ADB member countries to undertake graduate studies in selected fields at ADB-JSP partner institutions. To date, a total of $191.6 million for 4,039 scholarships have been awarded, of which 1,566 (39%) are for women scholars.

Japan has also supported ADB’s private sector operations through the Japan Bank for International Cooperation (JBIC), wholly owned by the Government of Japan. The JBIC supports projects that promote global economic development, secure natural resources, improve competitiveness of Japanese industries, promote Japanese companies and technologies overseas, and prevent market disruptions. On 26 November 2015, ADB and the JBIC signed a Memorandum of Agreement to promote quality infrastructure investments in the Asia and Pacific region and enhance dialogue on topics such as renewable energy, social infrastructure, and risk allocation. In 2019, ADB and the JBIC cofinanced the Eastern Economic Corridor Independent Power Project which seeks to build an independent power plant in Thailand.

Meanwhile, as of December 2020, ADB’s Trade Finance Program (TFP) had supported 1,923 Japanese export and import transactions (through Japanese and non-Japanese banks) to developing Asia valued at over $980.1 million. Exports and imports were to 16 countries, but mostly to Bangladesh, Pakistan, and Viet Nam. Isolating TFP’s work with Japanese banks, the TFP works with three banks domiciled in Japan and has provided guarantees supporting $1.8 billion in trade in over 2,277 transactions. The TFP has mobilized $287.6 million in cofinancing with banks operating in Japan. This cofinancing helps leverage ADB resources and brings more support for developing members.