Project Readiness Improvement Trust Fund: Promoting Readiness of Climate Resilient Investments in Southeast Asia

Video | 16 September 2020

ADB’s Multi-Donor Project Readiness Improvement Trust Fund (PRI Fund) has been supporting Southeast Asia to build a pipeline of climate resilient design- and procurement-ready infrastructure projects. Watch the video showing how the PRI Fund helps such investments become shovel ready, innovative and catalytic, featuring Lao PDR’s Sustainable Rural Infrastructure and Watershed Management Sector Project.

Contact Alely Bernardo (PRI Fund) and Niloofar Sadeghi (LAO SRIWM Project).

Transcript

Project Readiness Improvement Trust Fund: Promoting Readiness of Climate Resilient Investments in Southeast Asia

ADB and its development partners are working together to mitigate and adapt to extreme climate events across the Southeast Asia.  

In partnership with the Nordic Development Fund, the Project Readiness Improvement Trust Fund (PRI Fund) enhances the readiness of investment projects addressing climate change.

It ensures that planning and preparation of infrastructure projects are properly designed in member countries.

What is the Project Readiness Improvement Trust Fund?

Established in 2016, the PRI Fund helps countries deliver their respective Nationally Determined Contributions and focus on critical development projects related to climate change.

Ramesh Subramaniam, Director General, Southeast Asia Department, Asian Development Bank
NDF support through the Project Readiness Improvement Fund, has been highly instrumental in ADB leveraging significant resources for climate change adaptation and mitigation projects in the Greater Mekong Subregion.

Today, the PRI Trust Fund has invested close to $8 million on Transactional Technical Assistance (TRTAs) which is leveraging over $2 billion of climate-resilient infrastructure investments that are “shovel-ready, innovative and catalytic.”

To date, the Multi-Donor PRI Fund has reached 5 countries  

  • Indonesia – 1 project
  • Philippines – 1 project
  • Viet Nam – 5 projects
  • Cambodia – 7 projects
  • Lao PDR – 2 projects

across sectors such as

  • agriculture and natural resources
  • transport
  • water and urban services
  • regional tourism
  • education 

Design Readiness

The PRI Fund supports upstream project preparatory activities:

  • climate risk vulnerability assessments or CRVAs
  • engineering designs incorporating climate resilient measures and greater safety factors
  • feasibility studies and project design reports
  • knowledge transfer and on-the job training of central and local partners
  • customized climate resilient solutions

Procurement Readiness

The PRI Fund has helped projects ready for fast rollout with:

  • Savings of 6-24 months in procurement process
  • Quicker start up on the ground
  • Faster funds disbursement

Khoeum Ya, Farmer, Nikum Kandal Village, Banteay Meanchey Province, Cambodia
Before this big canal was rebuilt, we didn’t have enough water.  Since this big irrigation canal was rebuilt we can now have two crops of rice per year.

How has the PRI Fund worked in Lao PDR?

Sustainable Rural Infrastructure and Watershed Management Sector Project (SRIWMP)
Extreme climate events have significantly affected agricultural production activities and incomes in several provinces of Lao PDR.

SRIWMP outputs include:

  • Market-oriented agricultural production increased
  • Watershed ecological services protected
  • Command area irrigation reliability improved
  • Nutrition awareness and facilities improved

When fully implemented, SRIWMP will have a major impact on the lives and livelihoods of 200,000 farmers and entrepreneurs covering over 220,000 hectares of rehabilitated lands.

Somsamone Phalichan, Deputy Director, Xiangkhouang Provincial Agriculture and Forestry Office
We have many constraints in terms of the unsustainable use of natural resources and the environment for example, the forest, land, water and minerals.  At the same time the income of the population is very low.

Innovation is promoted by:

  • Design work that incorporates climate resilience in investments and standard engineering practices.
  • Higher security margins so structures cope with extreme conditions.
  • Integration of in project planning and design at the outset.
  • Better disaster resilience ensures more inclusiveness for women and girls, coupled with better nutritional awareness

Upscaling climate investments alongside its partners, ADB’s PRI Fund is ready to support Southeast Asian countries move towards a more sustainable, greener and secure development. 

Interested in partnering?

Contact us: [email protected]

To ensure greater synergy, the PRI Trust Fund helps mobilize resources and expertise from key development partners

  • Japan Fund for Poverty Reduction
  • Nordic Development Fund
  • Climate Change Fund, established by ADB
  • The Netherlands
  • German Development Cooperation, GIZ and Green Climate Fund logos
  • IFAD
  • European Union