The People’s Republic of China (PRC) Poverty Reduction and Regional Cooperation Fund or PRCF supports the process of poverty reduction, regional cooperation, and knowledge sharing for ADB developing member countries in Asia and the Pacific. The PRCF aims to contribute to poverty reduction, regional cooperation, knowledge sharing, and economic and social development in developing member countries in an accelerated manner and with tangible results.
In 2022, the PRCF provided additional financing to TA 6628-REG: Promoting Innovations in Regional Cooperation and Integration in the Aftermath of COVID-19 amounting to $500,000. The technical assistance aims to promote innovations in implementing Strategy 2030 Operational Plan for Priority 7 by (i) supporting sector and/or subsector diversification in regional cooperation and integration (RCI), (ii) fostering systematic development of nonsovereign RCI, (iii) exploring opportunities in inter-subregional cooperation, and (iv) supporting the developing member countries that have lagged in RCI. The fund also supported Thailand’s first social bond issued by a state-owned savings bank and the first green bond issuance by the Export-Import Bank of Thailand.
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ADB has allocated $4.1 million in technical assistance to help agri-food value chains and rural economies in Asia and the Pacific recover from the impacts of the coronavirus disease (COVID-19) pandemic. The project will assess the impacts of COVID-19 on the region’s food and nutrition security and rural livelihood. It will also help developing member countries transform investments toward a green, resilient, and inclusive recovery from COVID-19, which has exacerbated rural poverty and food and nutrition insecurity, particularly among women and vulnerable people.
ADB has approved a €272 million ($300 million equivalent) loan for a project to expand transmission lines in Greater Dhaka and the western zone of Bangladesh. The assistance also comprises a $750,000 grant from the People’s Republic of China’s Poverty Reduction and Regional Cooperation Fund.
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Leveraging its financing resources through partnerships with donors, including the People’s Republic of China, ADB provided urgent reconstruction to accelerate Nepal’s recovery from the April 2015 earthquake. In line to “build back better,” the people of Nepal benefited from school buildings, roads, and facilities built to disaster-resilient standards. Updating Nepal’s building code-105 led to a raising of the required seismic resistance levels across all the country’s buildings.
With grant support from the People’s Republic of China, Ireland, Japan, the Republic of Korea, and the Regional Malaria and Other Communicable Disease Threats Trust Fund, ADB is scaling up efforts to help its developing member countries’ health and economic systems respond to COVID-19 outbreaks and future pandemics.
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