In the face of the region’s glaring needs, ADB and its financing partners responded with agility, boldness, and innovativeness.
ADB partners with international development agencies, nongovernment or civil society organizations, nontraditional donors, multilateral and bilateral institutions, the private sector, and other emerging development partners. This section highlights the financing partners with active sovereign projects in 2020.
ADB partners with organizations or institutions established or chartered by more than one country to provide financial support and professional advice for economic and social development activities in developing countries.
ANA Trust Fund
The Afghan National Army (ANA) Trust Fund was created in 2007 to provide a mechanism to support the transportation and installation of equipment and services for ANA engineering projects, and to support in- and out-of-country training. The ANA Trust Fund is funded by the North Atlantic Treaty Organization and is one of the three funding streams used by the latter to channel its financial support to Afghanistan’s security forces and institutions.
ASEAN Infrastructure Fund
The Association of Southeast Asian Nations (ASEAN) established the ASEAN Infrastructure Fund (AIF), a dedicated fund to address the region’s infrastructure development needs, by mobilizing regional savings, including foreign exchange reserves. The fund prioritizes ASEAN member countries and provides loans to finance infrastructure investment projects in the transport, energy, water and sanitation, environment and rural development, and social infrastructure sectors.
Asian Infrastructure Investment Bank
Established in 2016, the Asian Infrastructure Investment Bank (AIIB) seeks to foster sustainable economic development, create wealth, and improve infrastructure connectivity in Asia by investing in infrastructure and other productive sectors. It also aims to promote regional cooperation and partnership in addressing development challenges by closely collaborating with other multilateral and bilateral development institutions.
Asian Investment Facility
The Asian Investment Facility (AIF) was established in 2010 in line with the European Union’s regional strategy for Asia. AIF’s main objective is to promote investments and infrastructure development. Its focus is on climate change, the environment, energy, small and medium sized enterprises, and social sector services.
Eurasian Development Bank
Russia and Kazakhstan established the Eurasian Development Bank (EDB) in 2006 to promote economic growth and integration in Eurasia. Other members of the bank are Armenia, Belarus, the Kyrgyz Republic, and Tajikistan, which are also its priority countries to support.
In 2013, the EDB started partnering with ADB to help promote progress and development in the region in the areas of agriculture, transport, energy, and public services. In 2016, ADB and the EDB renewed their partnership and currently support projects across the region.
European Bank for Reconstruction and Development
Seeking to advance developmental goals in finance and policy reform, the European Bank for Reconstruction and Development (EBRD) is a development bank that provides project financing for banks, industries, and businesses, both in new ventures and in existing companies. The EBRD prioritizes its investments on industry, commerce, agribusiness, energy, infrastructure, and micro, small, and medium sized enterprises. It operates in Central and West Asia, and North Africa regions.
European Investment Bank
The European Investment Bank (EIB) or the European Union (EU) bank seeks to promote development in Armenia, Bangladesh, Fiji, Georgia, India, the Lao People’s Democratic Republic, Maldives, Mongolia, Nepal, Papua New Guinea, Sri Lanka, and Viet Nam. The EIB particularly focuses on climate change mitigation, economic and infrastructure development, renewable energy, urban transport, and water. In 2020, an EIB Climate Roadmap was finalized to set the bank’s goals for climate finance that supports the European Green Deal and helps make Europe carbon-neutral by 2050. It also started its transformative action to be recognized as the EU climate bank.
Established in 1958 originally as the European Economic Community (EEC), the European Union (EU) is a political and economic union of 27 sovereign states in Europe (in 1993, the EEC changed its name to the EU). The EU seeks to be a driver of sustainable development, peace, and economic integration. It works with ADB to promote human rights and good governance, health, education, sustainable agriculture, and food security, environment and clean energy, food and agriculture, and cross-border cooperation in human and animal health.
International Fund for Agricultural Development
The International Fund for Agricultural Development (IFAD) started working with ADB upon its establishment in 1977. IFAD is a specialized agency of the United Nations devoted to agriculture and rural development. IFAD’s collaboration with ADB prioritizes support to Afghanistan, Armenia, Bangladesh, Bhutan, Cambodia, India, Indonesia, the Kyrgyz Republic, the Lao People’s Democratic Republic, Myanmar, Nepal, Pakistan, Papua New Guinea, the Philippines, Samoa, Sri Lanka, Timor-Leste, Uzbekistan, and Viet Nam.
Islamic Development Bank
In 1973, the Islamic Development Bank (IsDB) was established as a multilateral development bank to help its member countries achieve economic development and social progress. The IsDB works with ADB in the areas of transport, energy, urban development and services, education, agriculture, health, regional cooperation, private sector development, public–private partnership, trade financing, and trade development. It prioritizes support to these countries: Afghanistan, Azerbaijan, Bangladesh, Indonesia, Kazakhstan, the Kyrgyz Republic, Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.
Neighbourhood Investment Facility
Officially launched in May 2008, the Neighbourhood Investment Facility (NIF) is an innovative financial instrument used as a modality of the European Union (EU). Its primary aim is to support key investment infrastructure projects in the transport, energy, social, and environment sectors as well as to support private sector development (small, and medium-sized enterprises) in the Neighborhood region. Projects receiving a grant from NIF must be in a European Neighbourhood Policy partner country that has signed an action plan with the EU (currently Armenia, Azerbaijan, Georgia, Egypt, Jordan, Lebanon, Moldova, Morocco, Palestine, Tunisia, and Ukraine).
New Development Bank
In July 2015, the governments of Brazil, the Russian Federation, India, the People’s Republic of China, and South Africa (BRICS) established the New Development Bank (NDB). NDB’s main objectives are fostering the development of member countries, supporting economic growth, promoting competitiveness and facilitating job creation, and building a knowledge-sharing platform among developing countries. NDB’s key areas of operation include, but are not limited to, clean energy; transport infrastructure; irrigation, water resource management, and sanitation; sustainable urban development; and economic cooperation and integration among member countries.
Nordic Development Fund
Established in 1989, the Nordic Development Fund (NDF) is a joint development finance institution of the Nordic countries. It supports climate change–related projects in Africa, Asia, and Latin America, usually in cooperation with trusted partners.
For its collaborations with ADB, the NDF prioritizes projects on climate change mitigation and adaptation, infrastructure, natural resources management, and capacity building in Bangladesh, Cambodia, the Lao People’s Democratic Republic, Myanmar, Nepal, Sri Lanka, and Viet Nam. The fund supports the ADB Ventures, a venture capital and technical assistance fund that helps early-stage growth companies operating on technology and delivers development impact to its beneficiaries in Asia and the Pacific.
OPEC Fund for International Development
Established in 1976 by the member-states of the Organization of the Petroleum Exporting Countries (OPEC), the OPEC Fund for International Development (OPEC Fund) is a development funding agency prioritizing support to projects in Armenia, Azerbaijan, Bangladesh, Bhutan, Cambodia, India, Kazakhstan, the Kyrgyz Republic, the Lao People’s Democratic Republic, Maldives, Mongolia, Nepal, Papua New Guinea, the Philippines, Samoa, Solomon Islands, Sri Lanka, Tajikistan, Tonga, Turkmenistan, and Uzbekistan. The priority of OPEC Fund’s Corporate Plan 2016–2025 is the energy–water–food nexus, underpinned by transportation as the enabling sector. It also prioritizes projects advancing agriculture, education, health, and water supply and sanitation. ADB’s Trade Finance Program (TFP) signed a risk distribution agreement with the OPEC Fund in 2012.
Pacific Region Infrastructure Facility
The Pacific Region Infrastructure Facility (PRIF), launched in 2008, is a multi-partner investment coordination and technical facility that supports infrastructure development and maintenance in the Pacific. The facility covers 12 Pacific-island countries and supports five economic infrastructure subsectors: energy; telecommunications; road, aviation, and maritime transport; waste management; and water and sanitation. PRIF partners are ADB, Australian Agency for International Development, New Zealand Ministry of Foreign Affairs and Trade, European Commission, European Investment Bank, and the World Bank Group (including the International Finance Corporation).
The United Nations (UN) is an international organization founded in 1945 and is currently made up of 193 member states. It was established to act on current issues on peace and security, climate change, sustainable development, human rights, disarmament, terrorism, humanitarian and health emergencies, gender equality, governance, and food production.
ADB has been collaborating with several UN agencies since 1972, among them, the Joint UN Programme on HIV/AIDS, UNICEF, UNDP, UN Environment Programme, UN Human Settlements Programme, UN Industrial Development Organization, UN Office on Drugs and Crime, UN Population Fund, WHO, and the World Tourism Organization.
World Bank Group
The World Bank Group (WBG) has been working with ADB since 1972. The WBG works with countries to implement sustainable solutions to reduce poverty and build shared prosperity in developing countries.
WBG’s collaboration with ADB prioritizes projects on health, education, infrastructure, agriculture, public administration, macroeconomic management, institutional development, governance, financial and private sector development, environmental protection, and natural resource management.
ADB works with a wide range of bilateral donors—government organizations that give direct assistance to a recipient country for development purposes—within and outside the Asia and Pacific region.
Australia plays a significant role in the economic stability and growth of the Indo-Pacific region and provides more aid to the Pacific island countries than any other donor. The Department of Foreign Affairs and Trade (DFAT) channels funds toward development work in infrastructure; trade facilitation and international competitiveness; agriculture, fisheries, and water; governance (policies, institutions, and functioning economies); education; health; building resilience (humanitarian assistance, disaster risk reduction, and social protection); climate change; and gender equality and empowering women and girls.
Australia contributes to the following ADB-administered funds:
- ADB Institute Special Fund
- Asia Pacific Project Preparation Facility
- Australian Technical Assistance Grant
- Carbon Capture and Storage Fund
- Clean Energy Fund
- Cooperation Fund for Regional Trade and Financial Security Initiative
- Gender and Development Cooperation Fund
- Multidonor Trust Fund under the Water Financing Partnership Facility
- Pacific Business Investment Trust Fund
- Regional Malaria and Other Communicable Disease Threats Trust Fund
Austria’s development assistance is felt through its support for the urban and water sectors and knowledge exchange with ADB via the provision of experts as secondees. ADB collaborates with Austria through the Federal Ministry of Finance (MOF) and the Federal Ministry for Europe, Integration and Foreign Affairs (FMEIA). MOF is responsible for budgetary planning, economic policy and financial services, and customs and taxation, among other things. The FMEIA is responsible for the strategic planning and alignment of the Austrian Development Cooperation.
Austria contributes to the following ADB-administered fund:
Belgium’s priorities are humanitarian aid, agriculture and food security, infrastructure, innovative financing, social development, education, health, climate change, biodiversity, gender equality, and migration. Belgium has cofinanced investment projects in Azerbaijan, Cambodia, India, and Sri Lanka.
Belgium contributes to the following ADB-administered funds:
ADB works with Global Affairs Canada (formerly Department of Foreign Affairs, Trade, and Development), which manages Canada’s diplomatic and consular relations, encourages Canadian international trade, and leads Canada’s international development and humanitarian assistance.
Canada contributes to the following ADB-administered funds:
China, People's Republic of
The People’s Republic of China (PRC) is a major contributor to ADB development finance and knowledge-sharing initiatives. ADB works with PRC’s Ministry of Finance and domestic commercial entities such as the Bank of Beijing, China Construction Bank Corporation, The Export-Import Bank of China, Huaxia Bank, and Shanghai Pudong Development Bank on directing development finance to investment projects.
The PRC contributes to the following ADB-administered funds:
ADB works with Denmark’s Ministry of Foreign Affairs, which administers development cooperation. The Danish International Development Agency under the Ministry of Foreign Affairs is responsible for the planning, implementation, and quality assurance of Denmark’s development cooperation.
Denmark contributes to the following ADB-administered funds:
The Finland Ministry of Foreign Affairs is the main actor for development cooperation. The core goal of the Finnish development policy is the eradication of extreme poverty and reduction of poverty and inequality, together with climate change mitigation, adaptation, disaster risk management and preparedness. The Finnish Fund for Industrial Development Cooperation Ltd. is a Finnish development finance company that provides long-term risk capital for private sector projects in developing countries.
Finland contributes to the following ADB-administered funds:
ADB works with the Agence Française de Développement (AFD), which is responsible for France’s official development aid. The Inter-Ministerial Committee for International Cooperation and Development, chaired by the Prime Minister, defines the guidelines for development cooperation policy of France. Three ministries steer and implement the cooperation policy: the Ministry of Foreign and European Affairs; the Ministry of the Economy and Finance; and the Ministry of the Interior, Overseas France, Local Authorities and Immigration.
France contributes to the following ADB-administered funds:
ADB and KfW signed a second amendment to the ADB–KfW Cofinancing Memorandum of Understanding (MOU) in November 2019, extending the MOU to 2023, increasing the cofinancing amount by another $2 billion, and expanding priority countries and themes. The original MOU, totaling $2 billion, was first signed in July 2017 and later amended in September 2017 to extend its validity to 2020 with an additional $2 billion.
Germany contributes to the following ADB-administered fund:
India’s cofinancing partnership with ADB is through the Export–Import Bank of India (India EXIM Bank), through the Asian EXIM Banks Forum (AEBF) where India EXIM Bank has been a regular member since 1996. ADB has sponsored four training programs for AEBF members and observers in India hosted by India EXIM Bank, including on Country Risk Analysis (2011), Overseas Investment Finance (2012), Accessing Capital Markets (2013), Infrastructure Financing (2016), and Buyer’s Credit (2017).
The Ireland Trust Fund for Building Climate Change and Disaster Resilience in Small Island Developing States, established in April 2019, is the first single-donor trust fund financed by Ireland. The country committed €12 million ($13.5 million) to support small island developing states in responding to climate change and disaster resilience challenges.
Ireland contributes to the following ADB-administered funds:
For Japan, the Ministry of Foreign Affairs and the Ministry of Finance handle official development assistance through the Japan International Cooperation Agency (JICA). JICA provides extensive development support to its neighbors in the Asia and Pacific region in the forms of loan aid, technical cooperation, and grant aid. Its operational focus areas are strengthening the human capacity of individuals who will be key players in their countries’ development; fortifying partnerships between actors in Japan who are involved in, and contributing to, development cooperation and regional vitalization; contributing to international commitments and serving as a leader in the international community; and strengthening security measures.
Japan contributes to the following ADB-administered funds:
- ADB Institute Special Fund
- Afghanistan Infrastructure Trust Fund
- Asia Pacific Project Preparation Facility
- Asian Clean Energy Fund
- Cooperation Fund for Regional Trade and Financial Security Initiative
- Credit Guarantee and Investment Facility
- Investment Climate Facilitation Fund
- Japan Fund for Information and Communication Technology
- Japan Fund for Poverty Reduction
- Japan Fund for Public Policy Training
- Japan Fund for the Joint Crediting Mechanism
- Japan Scholarship Program
- Japan Special Fund
- Leading Asia’s Private Sector Infrastructure Fund
- Regional Cooperation and Integration Fund
Korea, Republic of
The Republic of Korea (Korea) is an important knowledge and development partner that works with ADB to support the growing demand for large-scale development projects, particularly for renewable energy, energy efficiency, water supply and sanitation, waste treatment, sustainable transportation, information and communication technology, and climate change.
The Republic of Korea contributes to the following ADB-administered funds:
Kuwait, in 1975, cofinanced with ADB a $25 million agriculture project in Sri Lanka, that led to a long-standing partnership for development. Through the Kuwait Fund for Arab Economic Development, the country helps Arab and other developing countries build their economies, focusing primarily on agriculture and irrigation, transport and communication, energy, industry, water and sewage, education, and health.
Three agencies oversee Luxembourg’s international cooperation and official development assistance (ODA). The Development Cooperation Directorate of the Ministry of Foreign and European Affairs manages its ODA; the Ministry of Finance handles cooperation with international financial institutions; and the Luxembourg Development Cooperation Agency manages its bilateral ODA and implements cooperation projects with partners in developing countries.
Luxembourg contributes to the following ADB-administered funds:
The Netherlands coordinates and implements its official development assistance through its Ministry of Foreign Affairs, and channels it through its embassies. Its priority areas include reproductive and sexual health and rights, water, food security, and security and the rule of law. It also supports gender equality, environment, and climate change. Its priority countries are Afghanistan, Bangladesh, and Indonesia.
The Netherlands contributes to the following ADB-administered funds:
New Zealand’s focal development agencies are its Ministry of Foreign Affairs and Trade (MFAT) and the International Aid and Development Agency (NZAID). The latter is a semi-autonomous body within MFAT that provides project-specific cofinancing. The country’s priority sectors are information and communication technology, education, energy, oceans and fisheries, health, rural development, and transport. Its priority themes are governance, security, economic development, climate change, disaster risk management, economic and policy work, human development and labor mobility, social protection, trade and the private sector, and support of global goals and targets, including the Sustainable Development Goals. New Zealand extends development assistance primarily to Pacific countries and the ASEAN, including Cambodia, Indonesia, the Lao People’s Democratic Republic, Myanmar, the Philippines, Timor-Leste, and Viet Nam.
New Zealand contributes to the following ADB-administered fund:
Norway courses its development efforts through two agencies. Its Ministry of Foreign Affairs (MFA) administers development assistance to promote economic development, democratization, implementation of human rights, good governance, and poverty reduction. The Norwegian Agency for Development Cooperation, a directorate under the MFA, ensures and reports on the effectiveness of Norwegian development aid. The country’s aid focuses on climate change and environment, democracy and good governance, education, energy, global health, higher education and research, macroeconomics and public administration, and oil for development. It supports Afghanistan, Bangladesh, India, Indonesia, Myanmar, Nepal, Pakistan, the People’s Republic of China, Sri Lanka, and Viet Nam.
Norway contributes to the following ADB-administered funds:
Saudi Arabia, Kingdom of
The Kingdom of Saudi Arabia channels its development cooperation through the Saudi Fund for Development (SFD). It finances development projects that promote social and economic well-being in the least-developed and low-income countries. Established in 1974, the SFD provides concessional and untied assistance for development projects. Its operations have no geographical and sector limitations.
The country’s development support is handled by two key agencies. Singapore’s Ministry of Finance oversees development assistance while International Enterprise Singapore facilitates the overseas growth of Singapore-based companies and promotes international trade. Singapore’s collaboration with ADB covers three broad themes: promoting good governance and public policy regionally, promoting private sector development focusing on infrastructure and trade financing, and supporting infrastructure development in the region focusing on climate change and its impact.
Singapore contributes to the following ADB-administered fund:
Several agencies oversee Spain’s development assistance. Its Ministry of Treasury and Public Function (Ministry of Finance) drafts the development budget bill and channels official development assistance funding to European Union institutions while its Ministry of Foreign Affairs, European Union and Cooperation sets the strategic orientation of Spanish development policy. The Spanish Agency for International Development Cooperation is responsible for implementing bilateral programs, humanitarian aid, and funding to civil society organizations. It manages the Development Promotion Fund. The Ministry of Economic Affairs and Digital Transformation manages the representation of Spain in international financial institutions and multilateral development banks. It is also engaged in debt relief operations.
Spain contributes to the following ADB-administered funds:
Two agencies, the Ministry for Foreign Affairs and The Swedish International Development Cooperation Agency, oversee the country’s provision of development assistance. Under its strategy for Asia called “Regional Development Cooperation in Asia and the Pacific,” Sweden’s development aid covers the entire region. It focuses on environmental improvement, reduced impacts of climate change, and disaster risk management, on the one hand, and strengthening of democracy, gender equality, and respect for human rights on the other. Its priority areas are Afghanistan, Bangladesh, Cambodia, and regional programs in South Asia, Southeast Asia, and small islands states in the Pacific.
Sweden contributes to the following ADB-administered funds:
The Swiss Agency for Development and Cooperation (SDC) and the State Secretariat for Economic Affairs (SECO) are Switzerland’s key agencies for development assistance. The SDC is under the Federal Department of Foreign Affairs while SECO is within the Federal Department of Economic Affairs, Education and Research. The SDC is the country’s international cooperation agency and its priority countries are Bangladesh, Mongolia, Myanmar, Nepal; and subregions Greater Mekong (Cambodia, the Lao People’s Democratic Republic) and Hindu Kush (Afghanistan, Pakistan). Its priority areas include climate change and the environment; water, agriculture and food security; disaster relief and reconstruction; private sector; gender; good governance; fragilities; human rights; and peaceful, just, and inclusive cities. SECO is Switzerland’s center for all issues on economic and labor market policy for poverty reduction in the form of economic development cooperation. SECO’s countries of focus are Cambodia, Indonesia, the Lao People’s Democratic Republic, Myanmar, and Viet Nam. It works on economic and financial policies, urban infrastructure and utilities, the private sector and entrepreneurship, and sustainable trade.
Switzerland contributes to the following ADB-administered funds:
Thailand’s development cooperation is channeled through the Neighbouring Countries Economic Development Cooperation Agency (NEDA). Established in 2005, NEDA collaborates with neighboring countries in economic and social development to expand trade and investment opportunities.
United Arab Emirates
The United Arab Emirates channels its development assistance through the Abu Dhabi Fund for Development, established in 1971 by the Abu Dhabi government. The fund provides concessionary loans for economic and social development projects. It prioritizes education, energy, finance and trade, health and food security, regional initiatives, transport, and urban services. The fund cofinanced two ongoing projects: the South Asia Subregional Economic Cooperation Road Connectivity and the Tina River Hydropower in the Solomon Islands.
Development Assistance Agency
In 2020, the United Kingdom’s (UK) Department for International Development (DFID) and Foreign Commonwealth Office (FCO) were merged into a new department called the Foreign, Commonwealth & Development Office. DFID has been the country’s lead development agency before the merger while the FCO was responsible for promoting UK’s interest overseas including national security, increasing exports and investments, opening markets, ensuring access to resources, and promoting sustainable global growth. Other agencies providing development support include the Department for Business, Energy & Industrial Strategy (BEIS); Conflict, Stability and Security Fund; the Home Office; the Department for Environment, Food & Rural Areas; the BBC World Service; HM Revenue & Customs; Prosperity Fund; and the Scottish Government.
The United Kingdom contributes to the following ADB-administered funds:
United States of America
The United States’ (US) main development office is the United States Agency for International Development. Its development support prioritizes agriculture, democracy and governance, economic growth, environment, education and training, global health, global partnerships, and humanitarian assistance. It aims to support broadly shared economic prosperity, strengthen democracy and good governance, improve global health, food security, environmental sustainability and education, help societies prevent and recover from conflicts, and provide humanitarian assistance in the wake of natural and human-made disasters.
The United States contributes to the following ADB-administered funds:
ADB works with other partners through concessional or commercial cofinancing, including partners from the private sector, with corporate social responsibility and philanthropic thrusts.
ADB Staff Community Fund
The ADB Staff Community Fund contributed $100,000 to an ADB COVID-19 assistance program in the Philippines' National Capital Region. Also called “Bayan Bayanihan,” the project delivered critical food supplies to around 162,000 households in Metro Manila and neighboring areas under the enhanced community quarantine in early 2020 to contain the spread of COVID-19.
Bill & Melinda Gates Foundation
The Bill & Melinda Gates Foundation (BMGF) was established in 2000 by Bill and Melinda Gates to enhance healthcare, reduce extreme poverty, and expand educational opportunities and access to information technology around the world. The foundation supports all countries in the areas of healthcare, education, and poverty alleviation.
The BMGF donates to the Sanitation Financing Partnership Trust Fund under the Water Financing Partnership Facility, which was created in 2013. The fund aims to leverage more than $28 million in investments from ADB to expand non-sewered sanitation and septage management solutions across Asia.
Chevron U.S.A. Inc.
Chevron U.S.A. Inc. is an integrated energy company involved in most aspects of the energy industry. It explores, produces, and transports crude oil and natural gas. It refines, markets, and distributes transportation fuels and lubricants. It also makes and sells petrochemicals and additives and is involved in power generation and the deployment of technologies that enhance business value in every aspect of the company’s operations.
Chevron has committed to supporting the scaling-up of high-quality training programs in information technology, construction, and light engineering in connection with ADB’s Skills for Employment Investment Program.
Eneco Energy Trade
The Eneco Energy Trade contributes to the Future Carbon Fund (FCF) with a commitment of $15 million. Eneco is a group of companies operating in the field of sustainable energy and innovation that strives to achieve its mission: “Everyone’s sustainable energy.” Headquartered in the Netherlands, the Eneco Group operates in Belgium, France, Germany, the Netherlands, and the United Kingdom. The Eneco Carbon Desk supports a variety of emission reduction projects around the world, including several projects in Southeast Asia through its investment in the FCF. The Carbon Desk invests in projects based on a thorough review and due diligence to ensure that only projects that make a genuine contribution to greenhouse gas abatement and visibly improve the livelihoods of surrounding communities are accepted into its portfolio.
JPMorgan Chase Foundation
The JPMorgan Chase Foundation supports programs designed to promote workforce readiness, small business expansion, financial capability, and community development. Special emphasis is directed toward neighborhoods located in areas of JPMorgan Chase’s major operations.
POSCO is a contributor to the Future Carbon Fund with a commitment of $20 million for purchasing certified emission reductions. It is a multinational steel-making company promoting new growth engines based on permanent new material and steel, with an ongoing commitment to upholding new values.
POSCO was established in 1968 and is headquartered in Pohang, Republic of Korea. The company demonstrated the fifth-largest crude steel production capacity in the world. In line with its vision to engage in promising industries of the future such as green growth projects and in support of the government’s initiatives in reducing greenhouse gas emissions in developing countries, POSCO is doubling its efforts to cope with the emissions trading system in Korea and the new climate regime. These activities promote shared growth, policy cooperation, and emissions reduction.
The Rockefeller Foundation
The Rockefeller Foundation is a private foundation established in 1913 to promote the well-being of humanity, catalyze and scale up transformative innovations, and create partnerships across different sectors including energy, health, food security, and smart cities.
The Rockefeller Foundation collaborates with ADB on a systems-centered approach that supports the integration of climate change into city planning as a central element and links it to the implementation of both infrastructure and institutional interventions. The Rockefeller Foundation has contributed $5 million to the Urban Climate Change Resilience Trust Fund under the Urban Financing Partnership Facility.
Uzbekistan Fund for Reconstruction and Development
The Uzbekistan Fund for Reconstruction and Development was established in 2006. It is a 100% state-owned fund that finances investment projects in Uzbekistan’s priority industry sectors—oil and gas, chemicals, energy, and metals and mining.
The fund has partnered with foreign investors, international financial institutions, and export credit agencies. Its beneficiaries are entities engaged in strategic infrastructure and socioeconomic development of Uzbekistan. It has partnered with ADB since 2014, contributing $740 million to its work with ADB.