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7

Apr

2021

Adb Partnership Agreements

By Erik. Posted in Uncategorized | No Comments »

Established in January 2016, the Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank based in Beijing, People`s Republic of China. The AIM of the AIIB is (i) to promote sustainable economic development, create wealth and improve infrastructure in Asia by investing in infrastructure and other productive sectors; and (ii) Promote regional cooperation and partnership to address development challenges by working closely with other multilateral and bilateral development agencies. The AIIB is expected to become an important partner of the PDO in regional development through co-financed projects and joint analysis. The AfDB has identified potential co-financing projects with the AIIB in areas such as transport, renewable energy, urban development and water. The partnership includes a grant agreement for the implementation of the “Prevention and Control of Avian Influenza in Asia and the Pacific” project. The Ministry of Foreign Affairs and the Ministry of Finance mainly provide official development assistance through the Japan International Cooperation Agency (JICA). Japan cooperates fully with the ADB throughout Asia and the Pacific through loans, grants and technical assistance. In December 2015, ADB and JICA signed a Memorandum of Understanding for a strategic partnership for sustainable and inclusive development by encouraging quality infrastructure investments in Asia and the Pacific. As part of this partnership, the main infrastructure management fund for the private sector was established in March 2016 at aDB by JICA`s investments to finance private sector projects through actions such as public-private partnerships.

The fund aims to invest and fund up to $1.5 billion over the next five years. ADB and JICA will also co-finance $10 billion in government projects over five years. Japanese cooperation with the AfDB also includes the Japan Fund for Poverty Reduction (JFPR), which prioritizes technical assistance for quality infrastructure projects. In the past, the Fund has provided grants and technical assistance to Myanmar`s transition, as well as emergency assistance for disaster recovery and reconstruction. In addition, Japan provides scholarships under the Japanese scholarship program and contributes to multi-purpose and thematic trust funds such as the Asia Pacific Project Preparation Program. Australia and the ADB cooperate in the Pacific and work towards closer cooperation through political cooperation and project co-financing. Australian aid focuses on key health priorities; Education Economic development Governance Strengthening resilience (humanitarian assistance, disaster risk reduction and social protection); Climate change Gender equality and the skills of women and girls. Most of Australia`s official development assistance (ODA) is managed by the Department of Foreign Affairs and Trade (DFAT). The ADB and the FDFA are cooperating in knowledge development, in joint operations as part of their global strategies and as part of the global development agenda. Over the past 5 years, Australia has been ADB`s largest partner for scholarships. AdB and DFAT signed a new cooperation framework covering 2016-2020 in February 2016 to strengthen their partnership in promoting trade and investment, promoting international competitiveness, supporting private sector growth and cooperating on transformative initiatives in the Pacific, including climate change, renewable energy, trade and investment and private sector development. The DFAT-ADB partnership will also work to raise public awareness and promote transparency in its activities and results.

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