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Project-Specific Cofinancing

In 2023, ADB’s partners committed $9.5 billion to support sovereign grants, loans, technical assistance, and investments. Of this, $9.4 billion was coursed through 61 project-specific cofinancing (PSC) interventions and $128.5 million through 71 trust funds–supported projects.

The year 2023 saw the highest levels of PSC since 2020, in terms of both volume and amount. The volume of PSC more than doubled at a 124% increase, from $4.2 billion in 2022 to $9.4 billion in 2023. The number of PSC projects also increased from 51 to 59. These PSCs were supported by 24 financing partners, comprising 12 bilateral partners, 7 multilateral partners, and 5 global funds.

by Source

Bilateral partners in 2023 committed about $3.1 billion to support 42 specific projects. Australia provided support for the greatest number of individual projects, providing about $67 million to 10 specific projects. Agence Française de Développement followed and provided support to six specific projects, with a corresponding commitment of $413 million.

Multilateral partners committed about $6.1 billion to 35 individual projects in 2023. The Asian Infrastructure Investment Bank was the biggest loan provider for PSCs, committing $4.7 billion to 11 projects. The World Bank provided $1.2 billion for three PSCs. Combined, they provided about 62% of ADB’s total cofinancing for 2023.

by Sector/Theme

These projects helped ensure developing member countries’ climate and disaster resilience, low carbon transition, quality education, food security, and governance reforms, contributing much to ADB’s climate agenda in 2023. Specifically, these projects targeted the sectors of public sector management (PSM), transport, health, education, energy, finance, agriculture, and water. Among these sectors, PSM, transport, and health received the biggest number of PSCs. About $2.7 billion PSCs were allocated for the PSM, $2.7 billion for transport, and $2.0 billion for health.

by Product

Commitments to specific projects in 2023 were in the form of loans and grants (grants for investments and technical assistance). About 44% of all PSCs were provided through loans, 38% through grants for technical assistance, and the remaining 26% through grants for investment projects.

by Region

The bulk of PSCs in 2023, both in volume and amount, were committed to projects implemented in Southeast Asia. About 45 or 73% of all PSCs were concentrated in this subregion, with a corresponding commitment of $6.7 billion. Of this amount, significant shares went to two countries—about $3.7 billion was allocated for projects in the Philippines and $2.9 billion for projects in Indonesia.

Partners committed about $2.4 billion to 14 projects in South Asia. Bangladesh, India, and Nepal received the highest number and amount of PSCs among all countries in the subregions. Bangladesh had six, with a total partner commitment of $1.4 billion, while India received $753 million for four PSCs. Two PSCs were provided to Nepal, with a corresponding partner commitment of $185 million.