ASEAN Infrastructure Fund

ADB and member nations of the Association of Southeast Asian Nations (ASEAN) established the ASEAN Infrastructure Fund (AIF), a dedicated fund to address the region’s infrastructure development needs by mobilizing regional savings, including foreign exchange reserves. The fund prioritizes ASEAN member countries and provides loans to finance infrastructure investment projects in the transport, energy, water and sanitation, environment and rural development, and social infrastructure sectors.

Highlights

Sovereign Cofinancing. In 2023, AIF committed $10 million to support establishing a modern public bus transport system in Davao City, the third-largest city in the Philippines. The project is part of the efforts of the Department of Transportation to improve the public transport system in the Philippines by creating a reliable, safe, and comfortable passenger experience and reducing air pollutants and greenhouse gas emissions.

Knowledge. In November 2023, the annual AIF Board and ASEAN Catalytic Green Finance Facility (ACGF) Partners Meetings, hosted by the Ministry of Finance of Malaysia, took place in Kuala Lumpur. During the meetings, the AIF Board, composed of finance officials from ASEAN member states and ADB, engaged with financing and knowledge partners of the ACGF, a regional green finance vehicle under AIF.