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Regional: Preparing the Pacific Regional Financing Facility

Sovereign (Public) Project | 55051-001 Status: Active

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 Officer
Abbasov, Rafayil Pacific Department Request for information
Country
  • Regional
Sector
  • Energy
 
Project Name Preparing the Pacific Regional Financing Facility
Project Number 55051-001
Country Regional
Micronesia, Federated States of
Kiribati
Marshall Islands
Samoa
Solomon Islands
Tuvalu
Vanuatu
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6727-REG: Preparing the Pacific Regional Financing Facility
Technical Assistance Special Fund US$ 200,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Regional integration
Drivers of Change Gender Equity and Mainstreaming
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Energy / Energy sector development and institutional reform

Finance / Small and medium enterprise finance and leasing

Gender Equity and Mainstreaming 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
Responsible ADB Officer Abbasov, Rafayil
Responsible ADB Department Pacific Department
Responsible ADB Division PAEN
Executing Agencies
Asian Development Bank
6 ADB Avenue,
Mandaluyong City 1550, Philippines
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 31 Mar 2021
Last Review Mission -
Last PDS Update 07 Apr 2021

TA 6727-REG

Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
200,000.00 0.00 0.00 0.00 0.00 0.00 200,000.00 - 0.00

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