ADB $500 million funding soon for private sector infrastructure in Asia and Pacific

NEW DELHI: Asian Development Bank (ADB) today said it is actively processing USD 500 million (about Rs 3,275 crore) as debt and equity funding for private infrastructure projects in countries, including India and Pakistan.

Further, the ADB said it has approved two projects worth over USD 210 million in debt financing from the co-financing arm Leading Asia's Private Infrastructure Fund (LEAP) in its first year of operation.

ADB expects these initial projects will generate about USD 1.4 billion in total financing, including USD 264.5 million from ADB's own capital and an additional USD 890 million from co-financing partners.

"ADB is actively processing over USD 500 million of LEAP debt and equity transactions for private infrastructure throughout the region.

"This includes potential projects in India, Indonesia, Myanmar, Pakistan, the Philippines, and Thailand," the Manila headquartered multi-lateral lending agency in a statement.

LEAP is dedicated to fund private sector infrastructure in Asia and the Pacific. Launched in August 2016, the Japan International Cooperation Agency (JICA) supports the fund through a USD 1.5 billion equity commitment.

LEAP has financed the ReNew Clean Energy Project in India that recently commissioned a 48 MW solar subproject in Telangana and 110 MW wind subproject in Karnataka.

While, the Muara Laboh geothermal power project in Indonesia has commenced drilling, secondary works, and construction.