The Project Readiness Improvement Trust Fund or PRITF provides an innovative grants mechanism for supporting both design and procurement readiness of climate-responsive infrastructure projects. It seeks to complement existing financing modalities of ADB for supporting project readiness. By strengthening the climate change content of ensuing investments, the fund helps scale up ADB’s climate financing and improves access by developing member countries to global climate change funds.
News
New ADB Facility to Help Southeast Asia Revive Tourism and Boost Sustainable, Inclusive Investments
ADB has set up a $1.7 million technical assistance facility to accelerate Southeast Asia’s tourism recovery from the coronavirus disease (COVID-19) pandemic, boost inclusive, sustainable development in the sector, and help local tourism entrepreneurs, especially women and youth, adopt digital platforms to grow their businesses. The Southeast Asia Sustainable Tourism Facility will help countries identify and prepare environmentally sustainable tourism projects and catalyze private financing to support them. ADB will administer a $225,000 grant contribution to this facility from the Project Readiness Improvement Trust Fund financed by the Nordic Development Fund.
Stories
ADB-NDF Project Readiness Improvement Trust Fund helps prepare climate resilient infrastructure projects in Southeast Asia to be shovel ready, innovative and catalytic. Watch the video showing such support in Cambodia, featuring the Second Greater Mekong Subregion Tourism Infrastructure for Inclusive Growth Project.
The PRITF has been supporting Southeast Asia to build a pipeline of climate-resilient design- and procurement-ready infrastructure projects. This video shows how the fund helps such investments become shovel ready, innovative and catalytic, featuring Lao People’s Democratic Republic’s Sustainable Rural Infrastructure and Watershed Management Sector Project.
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