Investment Climate Facilitation Fund (ICFF) - Asian Development Bank

Donor: 
Any donor
International Finance Institutions
Geographical focus: 
Global
East Asia and the Pacific
South Asia
Thematic focus: 
Tourism in general
Employment, decent work and capacity building in Tourism
Infrastructure in Tourism
Policy and Governance in Tourism
Trade, Investment and Competitiveness in Tourism
Intro text: 
The Investment Climate Facilitation Fund (ICFF) was established in 2008 in coordination with the Government Japan to help address the challenges of promoting investment and tackling climate change through energy efficiency in Asia.

Official website

http://www.adb.org/site/funds/funds/investment-climate-facilitation-fund

Geographic focus

Asia

Who can apply?

All Developing Member Countries from the Asian Development Bank are eligible for support from ICFF.

Objectives and activities

Objective: ICFF is one of the pillars under the Enhanced Sustainable Development for Asia (ESDA) initiative which supports the efforts of ADB and its (developing member countries) DMCs to overcome these challenges.

Activities: The ICFF finances activities supported by ADB, including technical assistance and grant provision to investment projects that promote investments in DMCs and facilitate regional cooperation and integration through construction of basic infrastructure, facilitation of investment climate, capacity building, and promotion of good governance. ICFF covers the areas of cross-border infrastructure and software, trade and investment, monetary and financial cooperation, and regional public goods.

Type and level of funding

The ICFF’s objective is to finance activities supported by ADB, including technical assistance and grant provision. Funding priority will be given to projects that promote financial sector development and regional investment. Examples are projects that:

  • aim to improve financial regulatory and supervisory frameworks
  • mitigate risks in financial markets
  • harmonize regional investment policies
  • streamline procedures for investment applications and approvals

Likewise, projects that will promote the visibility of ICFF as well as those which will be implemented in cooperation with Japanese aid agencies. The Government of Japan supports the fund with an initial contribution of $11.5 million. Total ICFF funds made available up to 31 December 2012 amounted to approximately $32.2 million.