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Ashok Lavasa

Mr. Ashok Lavasa is the Vice-President for Private Sector Operations and Public-Private Partnerships of the Asian Development Bank (ADB). He assumed the position in September 2020.

Mr. Ashok Lavasa is responsible for ADB’s Private Sector Operations as well as Public-Private Partnerships.

9 December 2021 ADB, Bank of Georgia commit to support MSMEs in Georgia

ADB on 9 December 2021 signed a $100 million loan - or its Lari equivalent - to JSC Bank of Georgia (BOG) to support the growth of micro, small, and medium-sized enterprises (MSMEs), especially those owned by women. The facility comprises a loan of $100 million from ADB’s ordinary capital resources and an ADB-arranged parallel loan of $100 million by the Japan International Cooperation Agency (JICA). ADB will also provide BOG with technical assistance resources to support women-owned MSMEs, which are more vulnerable to the economic impacts of COVID-19. VP Ashok Lavasa said the project contributes to ADB’s goals of greater financial inclusion, further gender equality, job creation, and access to affordable financial services. Private Sector Operations Department Director General Suzanne Gaboury noted the project also incorporates measures to directly address gender equality and women’s empowerment to narrow gender disparities. Private Sector Financial Institutions Director Christine Engstrom signed the documents on behalf of ADB.

2 November 2021 ADB, People’s Republic of China’s Zhujiang Financial Leasing sign loan to support SMEs

VP Ashok Lavasa and Private Sector Operations Deputy Director General Christopher Thieme participated in a virtual ceremony on 2 November 2021 where Private Sector Infrastructure Finance Division Director Christine Engstrom signed a $40 million equivalent local currency loan with Zhujiang Financial Leasing (ZFL) to expand the company’s long-term lease funding for SMEs. A parallel loan of $40 million equivalent from DEG, a subsidiary of KfW, the German development bank, was also signed. The project will target SMEs outside the four most developed cities—Beijing, Guangzhou, Shanghai, and Shenzhen— to promote more inclusive growth. The loan will help ZFL to pilot a new lease finance product targeting micro businesses. Read the news release.

20 October 2021 VP Lavasa discusses public-private partnerships and the Indian economy at Delhi University

VP Ashok Lavasa on 15 October 2021 delivered the keynote speech at an event organized by the Hansraj Economics Society at Delhi University. VP Lavasa highlighted the critical role of public private partnerships (PPPs) in strengthening the Indian economy and international best practices in ensuring the success of PPP projects. He also discussed the future of PPPs for infrastructure projects in India and opportunities for asset monetization, in line with India's National Infrastructure Pipeline, which aims to improve project preparation and attract private investments into infrastructure.

8 October 2021 VP Lavasa spotlights ADB Energy Transition Mechanism at Multilateral Investment Guarantee Agency Partnerships Guarantee Roundtable

VP Ashok Lavasa on 8 October 2021 participated virtually in the Multilateral Investment Guarantee Agency Partnerships Guarantee Roundtable Mobilizing private investment: Financing and guarantee solutions for a sustainable, climate conscious recovery at the 2021 World Bank-IMF Annual Meetings. During the Support for decommissioning and taking coal off-line session, VP Lavasa showcased ADB’s pilot Energy Transition Mechanism (ETM) initiative as an innovative approach to phasing out coal-fired power plants from the grid, and thus helping unlock significant investment in renewables, storage, and other clean technologies initially across Southeast Asia. He added that the ETM will be an equitable, replicable, and scalable market-based model to help accelerate the transition from coal to clean power, while supporting a just transition for affected communities. He further highlighted the important role of the private sector in the ETM, and reiterated ADB’s commitment to tackling climate change in the Asia and Pacific region.

7 October 2021 VP Lavasa showcases ADB's PPP innovations at EU Sustainable Investment Summit

VP Ashok Lavasa on 7 October 2021 participated virtually in the inaugural European Sustainable Investment Summit, opened by the President of the European Commission Ursula von der Leyen in Brussels. During the Public-Private-Partnerships thematic lunch session, VP Lavasa highlighted the critical role of PPPs in mobilizing private finance for the post-pandemic green recovery through suitable structures, contractual arrangements, and regulations around risk-sharing mechanisms and investor rights guarantees. He also showcased ADB’s innovations and programmatic approaches across renewable energy and sustainable infrastructure PPPs in Cambodia, Palau, and Uzbekistan and reiterated ADB’s commitment to tackling climate change. Generali CEO Philippe Donnet and the Institutional Investors Group on Climate Change CEO Stephanie Pfeifer also joined the discussion, moderated by the EU Spokesperson Daniel Sheridan Ferrie. 

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Mr. Ashok Lavasa is the Vice President for Private Sector Operations and Public Private Partnerships (VPPP) with the Asian Development Bank.

Prior to joining ADB in September 2020, Mr. Lavasa was an Election Commissioner in India from January 2018 to August 2020, a constitutional position appointed by the President of India.

Mr. Lavasa served for nearly four decades with various government agencies in India including as Union Finance Secretary, Secretary Environment & Climate Change and Secretary Civil Aviation. He also served as Additional Secretary and Special Secretary for Power. As a senior member of the Indian Administrative Service, Mr. Lavasa was associated with a broad array of public policy and program implementation initiatives covering the finance, power, environment and climate change, civil aviation, infrastructure, and tourism sectors. He led the official Indian delegation for climate change negotiations for the Paris Agreement at COP21.

He is the author of a book ‘An Ordinary Life: Portrait of an Indian Generation’ published in July 2021 by Harper Collins. Earlier, he has authored a book titled An Uncivil Servant (Rupa: 2006) and has written several book chapters and academic papers covering climate change, economic policy, and energy. He completed M. Phil. from Madras University (India), MBA from Southern Cross University (Australia) and MA (English) from Delhi University (India).

Read the news release >>