Regional : Supporting the Implementation of ADB's Climate Change Operational Framework 2017-2030 - Enhancing Financial Mechanisms to Develop Climate Actions of Developing Member Countries (Subproject 2)
Subproject 2 will support enhancement of financial mechanisms for developing climate actions of DMCs. Expected outputs will include: (i) improved DMC knowledge on public and private sources of climate finance, and (ii) innovative financing mechanisms to develop DMC climate actions identified.
Project Details
-
Project Officer
Hughes, Katherine A.
Climate Change and Sustainable Development Department
Request for information -
Country/Economy
Regional -
Sector
- Finance
Related Projects
| Project Name | Supporting the Implementation of ADB's Climate Change Operational Framework 2017-2030 - Enhancing Financial Mechanisms to Develop Climate Actions of Developing Member Countries (Subproject 2) | ||||||||
| Project Number | 52004-004 | ||||||||
| Country / Economy | Regional |
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| Project Status | Active | ||||||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth Regional integration |
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| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Finance / Finance sector development |
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| Gender | Some gender elements | ||||||||
| Description | Subproject 2 will support enhancement of financial mechanisms for developing climate actions of DMCs. Expected outputs will include: (i) improved DMC knowledge on public and private sources of climate finance, and (ii) innovative financing mechanisms to develop DMC climate actions identified. |
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| Project Rationale and Linkage to Country/Regional Strategy | The Climate Change Operational Framework 2017-2030: Enhanced Actions for Low Greenhouse Gas Emissions and Climate-Resilient Development (CCOF2030), approved by the President on 4 July 2017, provides the broad direction and guidance for enhancing resilience and strengthening climate actions in ADB's operations and business processes. The knowledge and support technical assistance (TA) cluster on Supporting the Implementation of ADB's Climate Change Operational Framework 20172030 (CCOF2030) was approved by the President on 7 December 2018. The TA cluster will help boost the capacity of developing member countries (DMCs) for meeting their climate objectives by (i) assisting in refining and translating nationally determined contributions (NDCs) into climate investment plans, which may be implemented with assistance from the Asian Development Bank (ADB); (ii) improving DMCs' access to external public and private climate finance, including support for innovative financing mechanisms; and (iii) developing methods and approaches to establish baselines and monitoring tools for indicators to measure and gauge DMC progress on climate actions and ADB's contribution to these actions. The TA cluster is strongly aligned with Strategy 2030, which highlights tackling climate change, building climate and disaster resilience and enhancing environmental sustainability as one of ADB's operational priorities, i.e., operational priority 3. |
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| Impact | Low carbon development and climate resilience in Asia and the Pacific enhanced (Climate Change Operational Framework 2017-2030) |
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| Project Outcome | |
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| Description of Outcome | Capacities of selected DMCs to implement NDCs enhanced |
| Progress Toward Outcome | The TA is in discussions with potential target DMCs, together with the other subprojects under the cluster TA, to determine the scope of assistance needed to enable them to implement their respective NDCs including related financial support and appropriate mechanisms needed to sustain their respective NDC actions. To date, Mongolia and the Republic of Marshall Islands are two of the target DMCs for the TA. Two additional DMCs are in the process of being identified. |
| Implementation Progress | |
| Description of Project Outputs | DMC knowledge on public and private sources of climate finance improved Innovative financing mechanisms to develop DMC climate actions idenified |
| Status of Implementation Progress (Outputs, Activities, and Issues) | Output 1: Country workplans for the TA implementation have been completed for Mongolia and the Republic of Marshall Islands regarding their request for support in the development and implementation of their NDCs specifically as regards assessing options and formulating strategies for financing strategies including mobilizing support from the private sector. The respective governments have concurred with the workplans and the mobilization of consultants as well as implementation of specific activities have started. Output 2: Work on the scoping paper on ADB's climate finance is now ongoing. |
| Geographical Location | Regional |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | The TA carried out discussions with ADB Operational Departments, relevant international development partners and financing institutions in the preparation of the design of the TA and its activities. |
| During Project Implementation | The TA is closely coordinating with the other subprojects in the cluster TA as well as with ADB's Operational Departments, the relevant ministries or agencies of the potential DMCs, and international development partners such as NDC Partnership and GIZ in determining the scope of assistance and ensuring a fit with the expectations of the various stakeholders. |
| Business Opportunities | |
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| Consulting Services | The TA subproject will engage 24 person-months of international inputs (senior climate finance specialist, senior project finance - infrastructure finance specialist); and 48 person-months of national inputs (senior project coordination specialist, and senior country researchers). ADB will engage consultants using individual consultant selection method, as the TA subproject requires a mix of expertise covering various sectors, finding a firm that carries all expertise may be difficult and can cause unnecessary delays; and following the ADB Procurement Policy (2017, as amended from time to time) and its associated project administration instructions and/or staff instructions. Aside from the stated international and national consultants, resource persons and English translators may also be engaged for the training workshops.Selected reports will be published as knowledge products in English and the local language, as needed, with limited print copies prepared and disseminated to workshop participants from DMCs. |
| Responsible ADB Officer | Hughes, Katherine A. |
| Responsible ADB Department | Climate Change and Sustainable Development Department |
| Responsible ADB Division | Climate Change, Resilience, and Environment Cluster (CCRE) |
| Executing Agencies |
Asian Development Bank |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | - |
| MRM | - |
| Approval | 29 May 2019 |
| Last Review Mission | - |
| Last PDS Update | 16 Dec 2020 |
TA 9744-REG
| Milestones | |||||
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| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 29 May 2019 | - | 29 May 2019 | 31 Mar 2021 | 31 Dec 2024 | - |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 800,000.00 | 1,119,900.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,919,900.00 | 10 Nov 2023 | 602,865.83 |
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Related Publications
| Title | Document Type | Document Date |
|---|---|---|
| Green, Social, and Sustainability Bonds for Asia and the Pacific | Brochures and Flyers | Jul 2020 |
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