ADB commits record climate finance of almost $10B in 2023

The Asian Development Bank (ADB) said Wednesday that it has committed a record amount of climate finance in 2023 to help its developing member countries (DMCs) in Asia and the Pacific cut greenhouse gas emissions and adapt to the impacts of a warming planet.

ADB announces start of Climate Action Catalyst Fund

The Asian Development Bank (ADB) has on last Friday announced that it will start on January 1, 2024 operations of its Climate Action Catalyst Fund (CACF) — a first-of-its-kind carbon fund under the Paris Agreement. The fund aims to mobilize innovative carbon finance through the purchase of carbon credits to catalyze investments in transformative mitigation…

JICA to provide up to $1.5B for ADB-managed LEAP 2 Fund to support infrastructure in Asia and the Pacific

The Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA) have signed an agreement to establish the Leading Asia's Private Infrastructure Fund 2 (LEAP 2) with capital of up to $1.5 billion provided by JICA. The fund aims to co-finance high-quality, resilient, and sustainable infrastructure projects in Asia and the Pacific.

ADB lends $400M to support climate priorities in Bangladesh

The Asian Development Bank (ADB) has on Friday approved a $400 million policy-based loan to support the government of Bangladesh in implementing its National Adaptation Plan, 2023–2050 and Nationally Determined Contributions 2021 Update to the Paris Agreement to achieve a climate-focused inclusive development.

ADB approves $659M in financing to support Pakistan’s sustainable development

The Asian Development Bank (ADB) has approved three projects totaling $658.8 million to help Pakistan achieve its goal of more inclusive and sustainable growth and development. The projects will focus on improving domestic resource mobilization; rehabilitating schools damaged by the devastating August 2022 floods; and enhancing agricultural productivity to…

ADB, GEAPP and MAS to establish $2B blended finance fund for energy transition in Asia

The Asian Development Bank (ADB), Global Energy Alliance for People and Planet (GEAPP) and the Monetary Authority of Singapore (MAS) have on Tuesday announced their intent to establish a $2 billion blended finance partnership to accelerate energy transition at scale in Asia.

ADB unlocks $100B new funding to support Asia and the Pacific to tackle climate crisis

The Asian Development Bank (ADB) has on Friday approved capital management reforms that unlock $100 billion in new funding capacity over the next decade to address the region’s overlapping, simultaneous crises. The expansion of available funds will be further leveraged through mobilizing private and domestic capital to move from the billions to trillions…

Renewable energy manufacturing in Southeast Asia can generate $90B to $100B in sustainable revenue by 2030

Renewable energy manufacturing in Southeast Asia can generate $90 billion to $100 billion in sustainable revenue by 2030, said the Asian Development Bank (ADB) on Thursday. According to new research released by the Asian Development Bank (ADB), Bloomberg Philanthropies, ClimateWorks Foundation, and Sustainable Energy for All (SEforALL), the Southeast Asian…

ADB approves $1B loan to support low-carbon public transport in the Philippines

The Asian Development Bank (ADB) has on Thursday approved a $1 billion loan to help establish a city-wide public transport project in Davao City, the first project in the country to deploy electric bus fleets at scale in support of the Philippines’ efforts to reduce greenhouse gases and promote climate action.

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Creating a more equitable financial system with inclusive fintech

Inclusive fintech has the potential to revolutionize the financial industry and create a more equitable and just financial system for all. By using technology to provide financial services to underserved and unbanked populations, we can help break down barriers and promote financial inclusion for all.