ADB and AFD Sign Agreement to Boost Project Preparation in Asian Cities
March 23, 2018
Agence Française de Développement (AFD) and the Asian Development Bank (ADB) have recently signed a collaboration agreement to co-finance CDIA’s work with Asian cities in preparing infrastructure projects with climate co-benefits.
Part of the agreement is the provision of a €6-million funding support, which will be contributed by the European Union (€5M) and the AFD (€1M). Both funds will be administered by the AFD.
“Our goal is to help bridge the gap in infrastructure investment by promoting sound project preparation. Our partnership with AFD will give us more leverage to work closely with Asian cities to put together investment-ready and implementable infrastructure projects,” said Neil Chadder, CDIA Program Manager.
In line with its Strategy 2018-2022, CDIA will implement the agreement until 2022 to assist medium-sized cities in developing climate-compatible low carbon and resilient urban investment projects. CDIA’s support will entail the provision of both technical assistance such as pre-feasibility studies, vulnerability assessments, preliminary engineering design, and other preparation studies; as well as capacity building leading to project implementation.
Up to 12 cities are expected to benefit from the collaboration, covering all sectors of urban development presenting climate co-benefits. This includes housing (energy efficiency retrofitting), transport, water and sanitation, solid waste management, urban planning and riverbank rehabilitation among others.
The agreement was signed in February 2018 by Mr. Kai Preugschat, Head of the Office of Cofinancing Operations (OCO) of the ADB, and Mr. Remi Genevey, Director of Asia Department of AFD.
Photo: L-R: Mr. Saad Abdullah Paracha, Financing Partnership Specialist, OCO-ADB; Mr. Kai Preugschat, Head, OCO-ADB; Mr. Clement Larrue, Senior Urban Development Specialist, AFD; and Mr. Joris van Etten, Senior Urban Development Specialist, SDCC-ADB and CDIA Unit Head.