ASEAN Catalytic Green Finance Facility (ACGF): Green Recovery Program

  • Mitigation
  • Under implementation
Date approved
19 Mar 2021
Est. completion
10 Aug 2041
ESS Category
Intermediation 1
Financing
Public sector
Entity
Asian Development Bank

Overview

Southeast Asia is one of the world's most energy-intensive regions, with rapid urbanisation and industrialisation increasing its greenhouse gas emissions. The COVID-19 pandemic has had a massive impact on the region's economic growth, affecting countries' ability to realise their climate ambitions in the face of increased climate and economic vulnerability.

Designed as Asia’s first regional 'green recovery' programme, this initiative aims to kickstart countries' low-emission investments to support economic recovery following COVID-19. By catalysing increased climate finance from both the private and public sectors, the programme will support at least 20 high-impact, low-emission sub-projects in the region.

Result areas

Countries

Regions

Priority groups

Project timeline

  • Pipeline

    309 days

    • Concept note received

    • Funding proposal received

    • Cleared by GCF Secretariat

    • Cleared by iTAP

  • Approved

    510 days

    • Approved by GCF Board

    • Legal opinion on AE's Internal Approval

    • FAA executed

  • Under implementation

    1,406 days so far

    • FAA effective

  • To be completed

    5,535 days to go

    Not started

  • Total project value $ 3.7 billion

  • Tonnes of CO2 equivalent avoided 119 million

Financing

GCF-financing

0.0%

USD

Co-financing

0.0%

USD

USD 3.7 billion

Show details

GCF-financing

24% disbursed

  • Grant USD 20,000,000
  • Loan USD 280,000,000
  • Total GCF-financing USD 300,000,000

Co-financing

  • Loan USD 3,385,000,000
  • Total co-financing USD 3,385,000,000

Documents

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