The People’s Republic of China (PRC) is a major contributor to ADB development finance and knowledge-sharing initiatives. The PRC prioritizes investments in projects promoting regional connectivity and cooperation, poverty reduction, and knowledge sharing.
ADB works with the PRC’s Ministry of Finance and domestic and commercial entities on directing development finance to investment projects. Among the commercial entities are the following:
- Bank of Beijing
- China Construction Bank Corporation
- Huaxia Bank
- Shanghai Pudong Development Bank
Sovereign Cofinancing. The PRC is the sole donor to the PRC Poverty Reduction and Regional Cooperation Fund (PRC Fund). Established in 2005, the fund has supported development in Central Asia and the Greater Mekong Subregion. The PRC Fund prioritizes technical assistance (TA) that directly benefits a project, particularly project preparation, in its future funding consideration. In 2022, the PRC supported two TA projects through their contribution to the PRC Fund.
Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported over 70 transactions valued at $78.1 million with banks domiciled in the PRC from inception to December 2022. During the same period, the TSCFP supported over 8,900 PRC exports and/or imports valued at $5.1 billion. In 2022 alone, the TSCFP supported 1,782 PRC exports and/or imports valued at $1 billion. Exports and/or imports were mainly to/from Viet Nam, Bangladesh, and Uzbekistan. Underlying goods involved mostly raw and non-energy commodities, industrial machinery and capital goods, well as textiles and apparel.
Special funds. The PRC contributes to ADB special funds where contributions from financing partners are administered with the same level of care as ADB’s own resources. Since becoming a member in 1986, PRC has committed a total of $333.6 million to special funds, of which $276.6 million went to the Asian Development Fund (ADF). The ADF provides grants to ADB’s low-income developing member countries to promote poverty reduction and improvements in the quality of life.
Active Trust Funds
Trust funds with ongoing projects or no active projects but with remaining funds are considered active
News
ADB, GreenCell Sign $40 Million Financing for Safer E-Buses in India, Especially for Women Commuters
The financing package will develop 255 electric battery-powered buses to serve 5 million people a year on 56 intercity routes in India and enhance the safety of passengers, especially women, through improved security features including panic buttons.
The project will help Cambodia enhance food security and promote inclusive economic growth by improving livestock health and value chains, and the formal trade of livestock and livestock products.
Stories
The 7.8 magnitude Nepal Earthquake in 2015 damaged or destroyed schools and classrooms, affecting the education of 1.5 million children. The Earthquake Emergency Assistance Project, jointly financed by ADB, USAID, and Nepal, financed the rebuilding of quality schools to withstand future disasters.
In 2020, the COVID-19 pandemic put a heavy burden on the healthcare systems of developing countries in the Asia and Pacific region. ADB has procured and delivered much-needed medical supplies which helped developing member countries cope with unprecedented shortages of critical products.
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