Regional : Preparing the Pacific Regional Financing Facility

Sovereign Project | 55051-001

The transaction technical assistance will help prepare the Facility and an associated technical assistance to implement the Facility. In addition to the remoteness of most Pacific DMCs and diseconomies of scale in their energy sectors, clean energy (renewable energy and energy efficiency) remain under-exploited mainly due to higher upfront capital costs, and institutional inertia that limits competition and private capital mobilization.

Project Details

Project Name
Preparing the Pacific Regional Financing Facility
Project Number
55051-001
Country / Economy
  • Regional
  • Micronesia, Federated States of
  • Kiribati
  • Marshall Islands
  • Samoa
  • Solomon Islands
  • Tuvalu
  • Vanuatu
Project Status
Closed
Project Type / Modality of Assistance
  • Technical Assistance
Source of Funding / Amount
TA 6727-REG: Preparing the Pacific Regional Financing Facility
Source Amount
Technical Assistance Special Fund US$ 200,000.00
TA 6727-REG: Preparing the Pacific Regional Financing Facility
Source Amount
Regional Cooperation and Integration Fund US$ 400,000.00
Clean Energy Fund under the Clean Energy Financing Partnership Facility US$ 400,000.00
Operational Priorities
  • OP1: Addressing remaining poverty and reducing inequalities
  • OP2: Accelerating progress in gender equality
  • OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
  • OP7: Fostering regional cooperation and integration
Sector / Subsector
  • Energy / Energy sector development and institutional reform

  • Finance / Small and medium enterprise finance and leasing

Gender
Effective gender mainstreaming
Description
The transaction technical assistance will help prepare the Facility and an associated technical assistance to implement the Facility. In addition to the remoteness of most Pacific DMCs and diseconomies of scale in their energy sectors, clean energy (renewable energy and energy efficiency) remain under-exploited mainly due to higher upfront capital costs, and institutional inertia that limits competition and private capital mobilization.
Project Rationale and Linkage to Country/Regional Strategy
In order to meet energy security objectives as well as Paris Agreement and Nationally Determined Commitments, a different approach and financing modality are required wherein governments help to leverage grant financing by reducing perceived market risks and barriers in order to mainstream investments clean energy, including retail lending for distributed solar and energy efficiency deployment.
Impact

Project Outcome

Description of Outcome
Progress Toward Outcome

Implementation Progress

Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location
Kiribati - Nation-wide; Marshall Islands - Nation-wide; Micronesia, Federated States of - Nation-wide; Samoa - Nation-wide; Solomon Islands - Nation-wide; Tuvalu - Nation-wide; Vanuatu - Nation-wide

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples

Stakeholder Communication, Participation, and Consultation

During Project Design
During Project Implementation

Contact

Responsible ADB Officer
Abbasov, Rafayil
Responsible ADB Department
Sectors Group
Responsible ADB Division
Energy Sector Office (SG-ENE)
Executing Agencies
Asian Development Bank

Timetable

Concept Clearance
-
Fact Finding
-
MRM
-
Approval
31 Mar 2021
Last Review Mission
-
Last PDS Update
30 Sep 2022

Funding

TA 6727-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
31 Mar 2021 - 31 Mar 2021 30 Jun 2022 30 Jun 2023 28 Sep 2023
Financing Plan/TA Utilization
ADB Cofinancing Counterpart Total
Gov Beneficiaries Project Sponsor Others
600,000.00 400,000.00 0.00 0.00 0.00 0.00 1,000,000.00
Cumulative Disbursements
Date Amount
05 Oct 2023 121,809.55

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Title Document Type Document Date
Preparing the Pacific Regional Financing Facility: Technical Assistance Report Technical Assistance Reports Mar 2021

Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.


Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

None currently available.


The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.

Tenders

Tender Title Type Status Posting Date Deadline
Climate Change Assessment Expert Individual - Consulting Closed
Economics and Financial Expert Individual - Consulting Closed
Geophysical Risk and Vulnerability Assessment Expert Individual - Consulting Closed
Banking Expert Individual - Consulting Closed
Social Development and Community Expert Individual - Consulting Closed
Gender Expert Individual - Consulting Closed
Energy Expert Individual - Consulting Closed
Procurement Expert Individual - Consulting Closed
Social development (gender and poverty) - KIR Individual - Consulting Closed
Energy Expert - KIR Individual - Consulting Closed
Community Development and Non-Government Organization Expert (KIR) Individual - Consulting Closed
Banking Expert - KIR Individual - Consulting Closed

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.