The Asian Development Bank (ADB) announced that its Asia Pacific Project Preparation Facility (AP3F) has received US$64 million in contributions from the Governments of Australia, Canada and Japan.
Through the AP3F, the ADB aims to adopt a more consistent approach to developing public-private partnerships (PPPs) and transaction advice across the region.
4 May 2015: The Asian Development Bank (ADB) announced that its Asia Pacific Project Preparation Facility (AP3F) has received US$64 million in contributions from the Governments of Australia, Canada and Japan. Through the AP3F, the ADB aims to adopt a more consistent approach to developing public-private partnerships (PPPs) and transaction advice across the region.
An ADB press release details a contribution of US$40 million from Japan, and smaller amounts from Canada and Australia.
The ADB will use the funds to help developing countries in the Asia-Pacific region prepare PPP projects, supporting the financial, legal and technical advisory services needed to prepare and structure such projects. The work could include: sector reforms such as new legislation, regulations, and incentive schemes; marketing to potential investors through road shows and other initiatives; and management of bidding processes.
The ADB opened the AP3F in October 2014 as a multi-donor umbrella facility to help countries in the region meet their own infrastructure needs.
The fund is open to further contributions, and the ADB will provide US$10 million to the fund from its existing resources.
The ADB announced the contributions during the 48th Annual Meeting of its Board of Governors, which took place in Baku, Azerbaijan, on 2-5 May 2015. [ADB Press Release, 4 May] [Establishment of AP3F] [Information on ADB’s Office of Public Private Partnership] [Annual Meeting]