13/12/23
ADB and JICA Collaborate on Asia-Pacific Infrastructure Fund Launch
The Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) have collaborated to launch the Leading Asia's Private Infrastructure Fund 2 (LEAP 2), with a capital infusion of up to $1.5 billion from JICA. Acting as a fund manager and administrator, ADB aims to boost private infrastructure in the Asia-Pacific, countering China's increasing influence. LEAP 2 succeeded its predecessor, LEAP, operational from March 2016 to August 2023. This new fund will focus on projects in India, Indonesia, Uzbekistan, and Vietnam, emphasising carbon reduction, healthcare, and education. LEAP, with over $1 billion in co-financing, supported 35 projects, creating 1.4 gigawatts of electricity and 7,285 jobs across 14 developing countries.
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