Concept papers provide the general information and description of a proposed project.
This document dated April 2022 is provided for the ADB project 51350-004 in Uzbekistan.
Annual audited project financial statements for sovereign operations provide project financial information prepared in accordance with generally accepted accounting principles and audited by an independent certified public accountant.
This document dated 14 April 2022 is provided for the ADB project 49409-001 in Mongolia.
Loan agreements outline the terms of an agreement for a loan.
This document dated 15 December 2021 is provided for the ADB project 53424-002 in Papua New Guinea.
The program, comprising three subprograms, targets improvements in the operational performance and financial sustainability of state-owned enterprises (SOEs) and helps strengthen service delivery. Policy reforms improve the legislative and policy framework for SOEs, the governance and transparency of SOEs, and financial sustainability of specific SOEs. Policy actions achieved under subprogram 1 have been sustained and are built upon by subprogram 2 actions. All 16 actions in subprogram 2 have been completed.
The report and recommendation of the President to the Board of Directors (RRP) document describes the terms and conditions of a project for consideration and approval by ADB's Board of Directors.
This document dated November 2021 is provided for the ADB project 53424-002 in Papua New Guinea.
MANILA, PHILIPPINES (10 December 2021) — The Asian Development Bank (ADB) has approved a $150 million loan to improve state-owned enterprises (SOE) in Papua New Guinea (PNG).
“ADB has long been engaged in SOE reforms in PNG, and built strong relationships with several SOEs,” said ADB Principal Public Management Specialist for the Pacific Pamela Wyatt. “The Government of PNG has made good progress on reforms and remains committed to improving the performance of its SOE portfolio.”
Most essential services in PNG, such as energy, water, telecommunications, ports, and air transport, are provided by SOEs. The ADB-supported PNG SOE Reform Program aims to help SOEs deliver high-quality services at affordable prices. The program is expected to reduce unsustainable borrowing practices, improve accountability and transparency, and encourage private sector participation in service delivery.
The program comprises three annual subprograms, which are designed to progress reforms while meeting the government’s budget support needs. ADB’s program is aligned with the government’s own SOE reform plans.
ADB has coordinated closely with key development partners to design the program, including the governments of Australia and New Zealand, the International Monetary Fund and the World Bank.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
ADB Signs $44.2 Million Blue Loan with ALBA to Reduce Ocean Plastic Waste in Indonesia
JAKARTA, INDONESIA (6 June 2023) — The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
ADB and the Leading Asia's Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.
ADB Records $11.4 Billion in Cofinancing, Focused on Resilience Against Economic Shocks
The financing partners of the Asian Development Bank (ADB) committed $11.4 billion in cofinancing of ADB projects in 2022 to help build the resilience of developing member countries and enable them to withstand economic shocks, according to the Partnership Report 2022: Driving Growth, Boosting Resilience.
ADB Helps Launch Vocational Education Project in PNG
ADB and the governments of Australia and Papua New Guinea today launched a cofinanced project to improve the country’s technical and vocational education and training program.
ADB to Focus on Robust, Climate-Resilient, and Inclusive Growth in India
ADB has launched a new country partnership strategy for India with a focus on deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.
MANILA, PHILIPPINES (1 December 2021) — The Asian Development Bank (ADB) has welcomed the publication of the Kumul Consolidated Holdings Authorisation (Amendment) Act 2021 in Papua New Guinea’s (PNG) National Gazette, a key step in efforts to reform governance, increase transparency, and improve the performance of the country’s state-owned enterprises (SOEs).
The act delivers several key reforms to aid the work of Kumul Consolidated Holdings (KCH), the holding company for PNG’s SOEs. These include providing a clear definition of ministerial, SOE board, and SOE management roles; revising KCH’s role to focus on SOE performance monitoring; improving SOE transparency requirements; and establishing a transparent, skills-based process for SOE director selection.
“SOEs provide critical public services and utilities to the people of Papua New Guinea,” said ADB Pacific Liaison and Coordination Office Regional Director Lotte Schou-Zibell. “That’s why ADB is working with the Government of PNG on these reforms, which will strengthen SOE performance and governance—making them more profitable and transparent, more likely to enable private investment, and better suited to the needs of the community.”
“These reforms will enable KCH to ensure PNG’s SOEs are sustainable, well-governed organizations that deliver reliable, affordable, and efficient services,” said KCH Chairman Moses Maladina. “This legislation will support KCH’s efforts to improve access to power and communication utilities, water, sanitation, banking and financial services, travel, and maritime services for PNG residents.”
The Government of PNG’s broader SOE reform program is supported in part by an ADB policy-based loan. The act was developed with support from the Pacific Private Sector Development Initiative (PSDI)—an ADB technical assistance program in partnership with the governments of Australia and New Zealand.
“The passage of this act demonstrates the Government of PNG’s commitment to transparency and improved governance and performance in its SOEs,” said Australian High Commissioner to PNG Jon Philp. "I congratulate the government for achieving this important step in its ambitious SOE reform agenda and, through our support for PSDI, Australia is proud to support improvements to the delivery of essential services. Much work is required to implement the act, and Australia looks forward to working with PSDI and the Government of PNG on this in the coming months and years.”
Established in 2006, PSDI works with ADB's 14 Pacific developing member countries to improve the enabling environment for business and support inclusive, private sector-led economic growth.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
ADB Signs $44.2 Million Blue Loan with ALBA to Reduce Ocean Plastic Waste in Indonesia
JAKARTA, INDONESIA (6 June 2023) — The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
ADB and the Leading Asia's Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.
ADB Records $11.4 Billion in Cofinancing, Focused on Resilience Against Economic Shocks
The financing partners of the Asian Development Bank (ADB) committed $11.4 billion in cofinancing of ADB projects in 2022 to help build the resilience of developing member countries and enable them to withstand economic shocks, according to the Partnership Report 2022: Driving Growth, Boosting Resilience.
ADB Helps Launch Vocational Education Project in PNG
ADB and the governments of Australia and Papua New Guinea today launched a cofinanced project to improve the country’s technical and vocational education and training program.
ADB to Focus on Robust, Climate-Resilient, and Inclusive Growth in India
ADB has launched a new country partnership strategy for India with a focus on deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.
This publication identifies technical, policy, and administrative tax capacity issues faced by 10 countries Southeast Asia and explores measures to strengthen domestic resource mobilization (DRM).
This publication describes how state-owned enterprises (SOEs) can access finance on commercial terms, without sovereign guarantees. Doing so can create fiscal space for governments and new sources of finance for important investments.
MAJURO, MARSHALL ISLANDS (6 August 2021) — The Asian Development Bank (ADB) and the Government of the Marshall Islands signed a $2 million grant today to extend and expand support for public financial management and state-owned enterprise (SOE) reforms in the country.
Marshall Islands Minister of Finance and ADB Governor Alfred Alfred Jr. and ADB Pacific Department Deputy Director General Emma Veve signed the grant agreement for the second additional financing for the Marshall Islands Public Financial Management Project.
The $2 million additional financing will fund a 3-year extension of the project until the end of 2024 and three new areas of reform support: improving the management of non-tax revenue; strengthening control over contingent liabilities; and introducing performance-based budgeting for local governments.
“This project has already helped implement numerous reforms to improve management of public finances and SOEs in the Marshall Islands, demonstrating the strong commitment of the government and ADB’s close coordination with development partners,” said Ms. Veve. “The additional financing will allow capacity to be built to prioritize and implement further reforms, including finalizing the government’s tax reform agenda, and establishing community service obligation frameworks with SOEs.”
Due to its size, remoteness, exposure to external shocks, and reliance on development assistance, the Marshall Islands has struggled with limited financial governance capacity.
The project, established through a $2 million grant in 2017 with $500,000 additional financing in 2019, funded the creation of a reform coordination unit in the Ministry of Finance. This expert team builds capacity and provides day-to-day advice and assistance to update and implement the Marshall Islands’ Public Financial Management Reform Roadmap.
Through the project, 12 reform areas identified in the roadmap have been advanced. These include the building of capacity to undertake tax reform and manage the Marshall Islands’ budgeting and investment framework, a recently drafted fiscal responsibility and debt management bill, and the identification and costing of community service obligations for SOEs. The project is also helping improve gender balance on SOE boards by providing training for potential women directors.
Coronavirus-related border closures saw the Marshall Islands’ economy contract by 5.5% in fiscal year (FY) 2020 (ended 30 September 2020). ADB projects a further 1.4% contraction for FY2021 before returning to 2.5% growth in FY2022. The Marshall Islands receives grants averaging 18.4% of its gross domestic product through its Compact of Free Association with the United States, an extension of which is not yet finalized.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
ADB Signs $44.2 Million Blue Loan with ALBA to Reduce Ocean Plastic Waste in Indonesia
JAKARTA, INDONESIA (6 June 2023) — The Asian Development Bank (ADB) signed a $44.2 million blue loan with PT ALBA Tridi Plastics Recycling Indonesia, an ALBA Group Asia company, to establish a polyethylene terephthalate (PET) recycling facility in Central Java.
ADB and the Leading Asia's Private Infrastructure Fund (LEAP) will each provide $22.1 million in funding for the project. Blue loans are financing instruments that aim to safeguard access to clean water, protect underwater environments, and invest in a sustainable water economy.
ADB Records $11.4 Billion in Cofinancing, Focused on Resilience Against Economic Shocks
The financing partners of the Asian Development Bank (ADB) committed $11.4 billion in cofinancing of ADB projects in 2022 to help build the resilience of developing member countries and enable them to withstand economic shocks, according to the Partnership Report 2022: Driving Growth, Boosting Resilience.
ADB Helps Launch Vocational Education Project in PNG
ADB and the governments of Australia and Papua New Guinea today launched a cofinanced project to improve the country’s technical and vocational education and training program.
ADB to Focus on Robust, Climate-Resilient, and Inclusive Growth in India
ADB has launched a new country partnership strategy for India with a focus on deepening its engagement with the country and supporting India’s drive for robust, climate-resilient, and inclusive growth.
This report assesses the corporate governance performance of 582 top publicly listed companies in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam using the revised ASEAN Corporate Governance Scorecard (ACGS).
