Project Readiness Improvement Trust Fund
What is the fund?
The Project Readiness Improvement Trust Fund provides an innovative grants mechanism for supporting both design and procurement readiness of climate change responsive infrastructure projects. It seeks to complement existing financing modalities of ADB for supporting project readiness. By strengthening the climate change content of ensuing investments, the fund will help scale up ADB’s own climate financing and also improve access by developing member countries (DMCs) to global climate change funds. It was established on 30 June 2016.
What are the priorities?
The fund supports project readiness activities of climate change responsive investment projects with emphasis on:
- improving design- and procurement-readiness;
- helping DMCs build a pipeline of well-prepared, technically sound and climate change responsive projects;
- reducing start-up and implementation delays; and
- strengthening the climate responsiveness of project designs.
What kind of activities will be financed under the fund?
The fund will support all project preparatory related activities that are included in ADB’s country operations business plans to help ensure that (i) project readiness is improved and project start-up delays are reduced; and (ii) climate change is appropriately addressed in the design of ensuing investment projects.
Who are eligible to receive the fund?
DMCs from Southeast Asia are eligible to receive support from the fund: Brunei Darussalam, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Viet Nam.
Who supports the fund?
The facility is a multi-donor trust fund administered by ADB. The Nordic Development Fund is the first contributor to the fund, with total commitment of EUR 7 million.
- Fund manager: Ramesh Subramaniam, Director General, Southeast Asia Department (SERD)
- Fund secretariat head: Nargiza Parkhatovna Talipova, Principal Portfolio Management Specialist, SERD
- For inquiries, contact SERD Fund Secretariat