Active Development AidData Chinese Aid

PRC Poverty Reduction and Regional Cooperation Fund provides USD 750,000 for Strengthening Ecosystem for Sustainable Finance Development in ASEAN+3 project

$750K USD

Funder	China Ministry of Finance
Recipient Organization	Government of Brunei\|Government of Cambodia\|Government of Indonesia\|Government of Laos\|Government of Malaysia\|Government of Singapore\|Government of South Korea\|Government of Thailand\|Government of the Philippines\|Government of Viet Nam\|Unspecified Chinese Government Institution
Country	Asia, regional
Start Date	Mar 12, 2023
End Date	Aug 29, 2031
Duration	3,092 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108583`

Grant Description

On March 12, 2023, the People's Republic of China (PRC) Poverty Reduction and Regional Cooperation Fund contributed USD 750,000 for Strengthening Ecosystem for Sustainable Finance Development in ASEAN+3 project.

The Asia Development Bank's Technical Assistance Special Fund provided USD 21,500 to the project, bringing the total grant amount to USD 771,500. The proposal was first cleared on September 16, 2022.

It was approved by China's Ministry of Finance on February 10, 2023 and the grant was finally approved on March 12, 2023.

The purpose of the project is to develop and strengthen the financial system(s) necessary to develop sustainable local currency financings in the region. The project focuses particularly on increasing the supply of sustainable bonds and loans.

ADB will administer and execute the project through the Financial Cooperation and Integration Team of the Economic Research and Regional Cooperation Department, under the guidance of the Chinese and Thai ministries of finance. The expected completion date was February 28, 2025, but has been pushed back to August 31, 2025.

As of April 23, 2025, USD 610,454.89 has been disbursed.

The People's Republic of China (PRC) Poverty Reduction and Regional Cooperation Fund was jointly established by the Chinese Government and Asian Development Bank (ADB) on March 24, 2005. The China Ministry of Finance provides financing and ADB implementes the projects.

The purpose of this special fund is to support the process of poverty reduction, regional cooperation and knowledge sharing for ADB developing member countries (DMCs) in the Asia-Pacific as well as Greater Mekong Subregion (GMS) and Central Asia Regional Economic Cooperation (CAREC) countries.

📋 Staff Comments

The ADB project number is 56122-001.
The project is also known as TA 10096-REG: Strengthening Ecosystem for Sustainable Finance in ASEAN+3.

📚 Sources & References

Regional : Strengthening Ecosystem for Sustainable Finance in ASEAN+3
ADB Supports the Philippines' First Gender Bond Issued by ASA Philippines Foundation
Strengthening Ecosystem for Sustainable Finance in ASEAN+3
PEOPLE’S REPUBLIC OF CHINA POVERTY REDUCTION AND REGIONAL COOPERATION FUND Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.