The Republic of Korea (ROK) established the e-Asia and Knowledge Partnership Fund or EAKPF to contribute to poverty reduction in Asia and the Pacific by improving access to information and communication technology (ICT) and facilitating knowledge sharing and partnerships. It covers all ADB sectors with priority on infrastructure (transportation, logistics, telecommunications, and water); ICT-based smart city development; clean energy, climate change and disaster risk management, and rural development; and health (hospitals, medical systems, and bio-industry). The fund supports ADB technical assistance (TA) projects, grants, and investments, which contribute to project readiness, policy reforms, institutional capacity, and knowledge dissemination.
In 2022, the ROK’s Ministry of Economy and Finance requested that ADB administer an additional $14.5 million per the Channel Financing Agreement between the ROK government and ADB. The ROK government, acting through the EAKPF, also committed to making the fund’s fifth contribution of $3.8 million to the ADB Institute Special Fund. The contribution will be done in four installments: two of $950,000 in 2022 and two of $925,000 in 2023.
In 2022, the EAKPF supported the technical assistance on Promoting Digitalization for Green and Inclusive Growth in Asia with funds amounting to $500,000.00. Focusing on enabling ICT to facilitate Asia’s transition toward green and inclusive growth, the TA project will support knowledge development and provide policy advice on fostering green and inclusive growth through digitalization in developing Asia.
News
ADB to Support Construction of Bhutan’s First Utility-Scale Solar Power Plan
ADB approved $18.3 million in financing for the construction of the first utility-scale solar photovoltaic power plant in Bhutan. The project is supported by technical assistance (TA) amounting to $20,000 from ADB’s Technical Assistance Special Fund and $450,000 from the Republic of Korea e-Asia and Knowledge Partnership Fund. The TA will support learning opportunities on climate-resilient energy systems for higher secondary students in the science, technology, engineering, and mathematics stream, as well as the Department of Renewable Energy under the Ministry of Economic Affairs.
Stories
The coronavirus disease 2019 (COVID-19) pandemic has caused tremendous health and economic impact globally, underscoring the importance of strong health security and vaccine delivery capabilities in the region. The Republic of Korea e-Asia and Knowledge Partnership Fund supports ADB developing member countries to improve vaccine development capabilities.
ADB, the Republic of Korea e-Asia and Knowledge Partnership Fund, and K-water worked together to improve urban drinking water supply services in South Asia by enhancing the capacity of water utilities or local governments.
Project Map
