The Japan Fund for the Joint Crediting Mechanism or JFJCM aims to provide financial incentives for adopting advanced low-carbon technologies in ADB-financed and -administered sovereign and nonsovereign projects and contribute to global climate change and development initiatives, such as the Paris Agreement and the Sustainable Development Goals. It provides grants and technical assistance to ADB projects utilizing the Joint Crediting Mechanism. The fund allows recipients to engage in projects with strong development characteristics and long-term climate change mitigation benefits.
In 2022, the Government of Japan provided ¥1 billion ($7.6 million) additional contributions to the fund.
News
ADB and the Government of Mongolia inaugurated a grid-connected renewable hybrid energy system in Zavkhan province under ADB’s Upscaling Renewable Energy Sector Project. Cofinanced by the Japan Fund for the Joint Crediting Mechanism and the Strategic Climate Fund, the system includes a 5-megawatt solar photovoltaic and 3.6 megawatt-hour battery energy storage system that will provide about 8.8 million kilowatt-hours (kWh) solar-generated and 1.3 million kWh charged and discharged energy in the Altai-Uliastai energy system.
ADB has approved its first multi-tranche financing facility (MFF) in Mongolia’s health sector. The $158.3 million MFF will provide high-quality health care services in selected disadvantaged ger areas of Ulaanbaatar, provinces, and subdistricts to support the government’s commitment to universal health coverage.
Stories
The Preparing Outer Islands for Sustainable Energy Development Project aimed to transform Maldives’ carbon-intensive electricity supply into a green energy system. The project replaced the country’s diesel-fueled electricity grids with renewable energy–ready grid systems powered by solar photovoltaic battery–based hybrid systems with enhanced energy management systems, upgraded distribution grids, and supervisory control and monitoring systems. In 2020, the project introduced disaster-resilient components and gender-inclusive livelihood activities to support fisheries. It also piloted a transport system run by solar energy.
Sustainable solid waste management should be prioritized to preserve Maldives' pristine beaches. ADB, together with partners Asian Infrastructure Investment Bank, Islamic Development Bank, and Japan Fund for the Joint Crediting Mechanism, is supporting the government’s efforts to do so by establishing a regional solid waste management facility equipped with waste-to-energy technology.
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