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Japan Fund for the Joint Crediting Mechanism

Year Established




Cumulative Contributions Committed

$120.1 million

Project Commitments


$47.5 million for 7 projects

Technical Assistance

$4 million for 3 TA projects

Direct Charges

$1 million for 13 activities

The Japan Fund for the Joint Crediting Mechanism (JFJCM) aims to provide financial incentives for the adoption of advanced low-carbon technologies in ADB-financed projects utilizing the Joint Crediting Mechanism (JCM), a bilateral offset crediting mechanism initiated by the Government of Japan (GOJ). The fund offers opportunities to engage in projects with strong development characteristics and long-term climate change mitigation benefits and contributes to the global climate change and development initiatives, such as the Paris Agreement and the Sustainable Development Goals.

The JFJCM provides grants and technical assistance support to sovereign and nonsovereign ADB projects in developing member countries that signed a JCM bilateral agreement with GOJ, including Azerbaijan, Bangladesh, Cambodia, Georgia, Indonesia, Kazakhstan, the Kyrgyz Republic, the Lao People’s Democratic Republic, Maldives, Mongolia, Palau, Papua New Guinea, the Philippines, Sri Lanka, Thailand, Uzbekistan, and Viet Nam.

In 2023, GOJ provided its annual and additional contributions to the JFJCM amounting to $23 million, which is triple the amount of previous annual contributions, to accelerate the development of new projects. This includes the first contribution dedicated for methane emission reductions amounting to $2.3 million.

In 2023, ADB approved a total of $21.2 million as grants to three new sovereign investment projects for sustainable and renewable energy generation: (i) Geothermal Power Generation Project (Additional Financing) in Indonesia, (ii) Accelerating Sustainable System Development Using Renewable Energy Project in Maldives, and (iii) Disaster-Resilient Clean Energy Financing (Additional Financing) in Palau. These investments are expected to reduce greenhouse gas emissions and provide economic, social, and environmental co-benefits.


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13 Sep 2023

ADB Approves Support to Expand Renewable Energy in Maldives

ADB approved a $50.5 million financing package to expand renewable energy development in Maldives. The project will be supplemented with funds from the Japan Fund for the Joint Crediting Mechanism, the Asia Pacific Climate Finance Fund, and private sector investments.

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28 Nov 2022

ADB Launches Grid-Connected Solar and Battery Energy System in Uliastai, Mongolia

ADB and the Government of Mongolia inaugurated a grid-connected renewable hybrid energy system in Zavkhan province under the Upscaling Renewable Energy Sector Project. The system will provide about 8.8 million kilowatt-hours (kWh) solar-generated and 1.3 million kWh charged and discharged energy in the Altai-Uliastai energy system.


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    Solar Power for a Greener Energy Sector

    The Preparing Outer Islands for Sustainable Energy Development Project aimed to replace Maldives’ carbon-intensive electricity supply into a green energy system. In 2020, the project introduced disaster-resilient components and gender-inclusive livelihood activities to support fisheries. It also piloted a transport system run by solar energy.

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    Tackling the Solid Waste Management Challenge in Maldives

    ADB, together with the Asian Infrastructure Investment Bank, Islamic Development Bank, and the Japan Fund for the Joint Crediting Mechanism, is supporting Maldives with a regional solid waste management facility equipped with waste-to-energy technology.

    Project Map