ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative supporting governments in Southeast Asia to prepare and finance infrastructure projects that promote environmental sustainability and contribute to climate change goals. The ACGF is owned by ASEAN governments and ADB and is managed by ADB’s Southeast Asia Green Finance Hub.

Activities: ASEAN Catalytic Green Finance Facility (ACGF)

05 April 2024 President Asakawa announces new ASEAN Climate Finance Policy Platform at 11th ASEAN High-Level Dialogue

Lao PDR Minister of Finance and ADB Governor Santiphab Phomvihane and President Masatsugu Asakawa opened the High-Level Policy Dialogue of the ASEAN Ministers of Finance: Enhancing the Role of Ministries of Finance for Climate Action in Southeast Asia held on 3 April in Luang Prabang. President Asakawa shared ADB’s plan to launch an ASEAN Climate Finance Policy Platform to support finance ministries in the region's collective action in the battle against climate change. At the event, VP Scott Morris joined Malaysia Minister of Finance II Amir Hamzah Azizan, Indonesia Vice Minister of Finance Suahasil Nazar, and Philippines Department of Finance Undersecretary Joven Balbosa in a panel discussion on climate finance challenges.

President Asakawa on 5 April joined the 11th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting with International Financial Institutions. The President highlighted ADB’s work with countries through the ASEAN Infrastructure Fund and ASEAN Catalytic Green Finance Facility to unlock climate finance, and emphasized ADB’s work to strengthen climate resilience in the region through transforming food systems, leveraging digital technologies, and regional cooperation. President Asakawa also held bilateral meetings with Lao PDR Minister of Finance and ADB Governor Santiphab Phomvihane, Malaysia Finance Minister II Amir Hamzah Azizan, and Singapore Deputy Prime Minister and Minister for Finance and ADB Governor Lawrence Wong. President Asakawa visited an ADB-financed Greater Mekong Subregion tourism project at the Kuang Si Waterfall, and met project beneficiaries. Read the news release.

08 January 2024 ACGF supports first social bond and sukuk in Indonesia

State-owned secondary finance company PT Sarana Multigriya Finansial (Persero) (SMF) issued Indonesia’s first labelled social bonds and sukuk in Indonesia, supporting the financing of affordable and sustainable housing, among other things. ADB provided technical assistance through the ACGF and the Asian Bond Markets Initiative.

06 December 2023 ADB approves $250 million loan for flood management in Indonesia

ADB approved a $250 million loan, including $10 million from the UK–AGCF Trust Fund for the Flood Management in North Java Project. The project aims to reduce the flood risk in the northern coastal area of Java Island and strengthen the local community’s socioeconomic resilience.

05 December 2023 ACGF co-organizes blue finance conference in the Philippines

The ACGF held a conference in partnership with the Securities and Exchange Commission Philippines (SEC), Asian Development Bank (ADB), and the British Embassy Manila (Foreign, Commonwealth and Development Office). At the in-person event, the SEC launched their new blue bond guidelines, and the contributions of the ACGF initiatives, the Blue Southeast Asia (SEA) Finance Hub and the GSS+ Bonds Initiative were presented.

04 December 2023 ACGF supports launch of ADB Nature Solutions Finance Hub

Supported by the ACGF, ADB launched the Nature Solutions Finance Hub at COP28 in Dubai. The Hub aims to attract at least $2 billion into investment programs that incorporate nature-based solutions, particularly focused on capital markets and other sources of private capital.

10 November 2023 ACGF organizes study tour to the UK

The ACGF invited 12 senior government officials from Cambodia, Indonesia, Thailand, Philippines, and Vietnam on a study tour to the United Kingdom to support green municipal bond issuances in the ASEAN region, arranged under the Green, Social, Sustainable and Other Labeled (GSS+) Bonds Initiative for Southeast Asia and organized in partnership with UK’s FCDO and the Climate Bonds Initiative.

04 October 2023 ACGF supports carbon pricing and taxation workshop in Indonesia

The ACGF financed a workshop on carbon pricing and taxation in Jakarta, Indonesia. The workshop was hosted jointly by the Indonesian Ministry of Finance Ministry of Finance, Republic of Indonesia, the Coalition of Finance Ministers for Climate Action (CFMCA), and the Government of Sweden. Over 100 officials attended.

19 September 2023 Blue SEA Finance Hub launches Indonesia-Korea twinning program

ADB's Blue SEA Finance Hub, an ACGF initiative, and the Korea Maritime Institute (KMI) organized a visit to Busan and two fishing ports for a delegation from Indonesia's Ministry of Marine Affairs and Fisheries (MMAF) and Ministry of National Development Planning (BAPPENAS). The delegates also presented at KMI's inaugural International Conference on Fishing Communities (ICFC). The twinning program is supported by ACGF partner the Republic of Korea e-Asia and Knowledge Partnership Fund (EAKPF).

05 September 2023 ACGF holds Green Buildings clinic in Singapore

With partners FCDO and Infrastructure Asia (IA), the ACGF organized a 2-day clinic on Green and Resilient Buildings in ASEAN on 5-6 September. Kara Owen, British High Commissioner to Singapore; Lavan Thiru, Executive Director of IA; Jackie Surtani, Regional Director of ADB's Singapore Office; and Eugene Wong, CEO of Sustainable Finance Institute Asia, all addressed the plenary. 100+ participants from 8 DMCs and 13 private organizations joined the in-person event in Singapore.

08 August 2023 GSS+ Bonds Initiative presented at ADB conference

On 8 August in Bangkok, ADB organized a regional conference on Catalyzing Green and Sustainable Finance Through Capital Markets and Other Innovative Solution as part of the ACGF-supported GSS+ Bonds Initiative for Southeast Asia. The conference attracted more than 450 in-person and online participants and was co-organized by Thailand's Public Debt Management Office and Securities and Exchange Commission and funded by the PRC Poverty Reduction and Regional Cooperation Fund.

Contacts

AIF Administrator

Alfredo Perdiguero
Director
E-mail

Green Finance Unit Head

Scott Roberts
Advisor
E-mail