Contact ADB for more information.
Fund Manager: Scott Roberts - sroberts[at]adb.org
The United Kingdom–ASEAN Catalytic Green Finance Facility (UK-ACGF) is a single-partner trust fund established in March 2023 under the ASEAN Catalytic Green Finance Facility (ACGF), a facility of the ASEAN Infrastructure Fund (AIF). The objective of the UK-ACGF fund is to support developing member countries in Southeast Asia to transition to low-carbon and climate-resilient development pathways. The objective of the facility is to accelerate the development of green infrastructure by better utilizing public funds to create bankable projects and catalyze private capital, technologies, and management efficiencies. It is managed by ADB’s Southeast Asia Green Finance Hub.
United Kingdom
Project implementation, supervision, and monitoring will be conducted by user departments following ADB’s standard policies, procedures, and guidelines.
The Government of the United Kingdom through FCDO and ADB will agree on a pipeline of projects that can be supported by the fund.
All potential projects must meet the ACGF eligibility criteria and additional FCDO criteria (iii and vii) as follows:
(i) Borrowers. Eligible DMC member states and entities in eligible DMCs which can obtain a sovereign guarantee.
(ii) Cofinancing. Confirmed financing sources for total project costs, including at least 30% from ADB own funds, with the remainder either from ADB own funds, the ACGF, and/or ACGF partners, as relevant and appropriate for the project.
(iii) Green additionality or impact. Classification as a “green” or “priority green” project, with every project (a) meeting a minimum threshold for climate finance, (b) demonstrating a reduction in GHG emissions against a baseline or meeting global best practice performance thresholds (for priority green projects), and (c) demonstrating a contribution to another environmental objective. Projects will be prioritized if they meet additional FCDO green priorities.
(iv) Bankability. Potential for support to improve financial viability and/or sustainability and bankability because of the trust fund’s support, as measured by the debt service coverage ratio and a net present value calculated over the project’s lifecycle.
(v) Private capital catalyzation. Potential to catalyze resources from private, commercial, or institutional sources of at least 10% (of estimated capital expenditure at the outset) at any time over the first 8 years, as part of capital expenditure or operation and maintenance costs.
(vi) Green jobs. Potential to create direct and indirect green jobs in support of COVID-19 economic recovery and poverty reduction.
(vii) Carbon abatement. Potential to demonstrate cost effectiveness for UK funds for climate change mitigation projects, measured as tons of GHGs reduced per dollar."
ADB DMCs in Southeast Asia, which are members of ASEAN, are eligible to receive support from the fund.
Contact ADB for more information.