Regional: Pacific Regional Financing Facility
The regional facility will provide grants to participating Pacific Developing Member Countries (DMCs) which will finance affordable clean energy financial intermediation loans for poor, low-income and women borrowers. The grant facility will finance clean energy projects in the participating Pacific DMCs to be implemented by the Pacific state-owned development banks.
Project Details
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Project Officer
Abbasov, Rafayil
Pacific Department
Request for information -
Country/Economy
Regional -
Sector
- Energy
Related Projects
| Project Name | Pacific Regional Financing Facility | ||||
| Project Number | 55051-002 | ||||
| Country / Economy | Regional Micronesia, Federated States of Kiribati Marshall Islands Samoa Solomon Islands Tuvalu Vanuatu |
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| Project Status | Proposed | ||||
| Project Type / Modality of Assistance | Grant |
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| Source of Funding / Amount |
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| Strategic Agendas | Environmentally sustainable growth Inclusive economic growth Regional integration |
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| Drivers of Change | Gender Equity and Mainstreaming Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector |
Energy / Energy sector development and institutional reform Finance / Inclusive finance |
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| Gender Equity and Mainstreaming | Effective gender mainstreaming | ||||
| Description | The regional facility will provide grants to participating Pacific Developing Member Countries (DMCs) which will finance affordable clean energy financial intermediation loans for poor, low-income and women borrowers. The grant facility will finance clean energy projects in the participating Pacific DMCs to be implemented by the Pacific state-owned development banks. | ||||
| Project Rationale and Linkage to Country/Regional Strategy | The impact of the project will be improved regional energy security in the Pacific region consistent with a Framework for Action on Energy Security in the Pacific (Draft, 2020-2030). The outcome will be increased generation of lower cost, reliable, and clean energy. | ||||
| Impact | Regional energy security in the Pacific improved. | ||||
| Outcome | Consumers energy expenditures reduced. | ||||
| Outputs | Disaster resilient clean energy financing for eligible borrowers made available. Accessibility to disaster resilient clean energy loans for eligible women borrowers improved Capacity and awareness of stakeholders on climate and disaster resilient clean energy solutions increased. |
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| Geographical Location | Kiribati - Nation-wide; Marshall Islands - Nation-wide; Micronesia, Federated States of - Nation-wide; Samoa - Nation-wide; Solomon Islands - Nation-wide; Tuvalu - Nation-wide; Vanuatu - Nation-wide | ||||
| Safeguard Categories | |
|---|---|
| Environment | FI-C |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Abbasov, Rafayil |
| Responsible ADB Department | Pacific Department |
| Responsible ADB Division | PAEN |
| Executing Agencies |
Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550, Philippines Department of Finance and Administration PS2, Palikhir Pohnpei State Federated States of Micronesia Ministry of Finance G.P.O. Box 26 Honiara Solomon Islands Ministry of Finance Ministry of Finance Government of Samoa Private Bag, Apia, Samoa Ministry of Finance P.O. Box D, Majuro MH 96960 Republic of the Marshall Islands Ministry of Finance Vaiaku, Funafuti, Tuvalu Ministry of Finance & Economic Management P.M.B. 058 Port Vila Vanuatu Ministry of Finance and Economic Development P.O. Box 67 Bairiki, Tarawa Kiribati Pacific Power Association Regional |
| Timetable | |
|---|---|
| Concept Clearance | 31 Mar 2021 |
| Fact Finding | 02 Aug 2021 to 06 Aug 2021 |
| MRM | 26 Nov 2021 |
| Approval | - |
| Last Review Mission | - |
| Last PDS Update | 07 Apr 2021 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.
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| Title | Document Type | Document Date |
|---|---|---|
| Pacific Regional Financing Facility: Initial Poverty and Social Analysis | Initial Poverty and Social Analysis | Mar 2021 |
| Proposed Grant and Technical Assistance Grant Pacific Regional Financing Facility: Concept Paper | Concept Papers | Mar 2021 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
Tenders
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Contracts Awarded
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Procurement Plan
None currently available.