According to the Bank’s website, the Asian Development Bank (ADB) and the People's Republic of China (PRC) signed a framework financing agreement for the Guangxi Regional Cooperation and Integration Promotion Investment Program (GRIP) on 15 October 2016. Under the program, a roadmap was developed to help the Guangxi Zhuang Autonomous Region (GZAR) and Viet Nam capture regional cooperation and integration benefits in their border areas through small and medium-sized enterprise (SME) support enhancement, cross-border financial transaction and investment promotion, cross-border e-commerce platforms development, border economic zone (BEZ) infrastructure construction, and policy coordination improvement. On 1 December 2016, ADB approved the provision of a $450 million multitranche financing facility (MFF) to the PRC for the GRIP to be implemented through three tranches from 2017-2024. Tranche 1 amounting to $130 million of ADB financing was approved on 12 December 2016 with the current loan closing date of 30 June 2022. Tranche 2 of $180 million was approved on 4 April 2018 with the current loan closing date of 30 November 2023.
The Government of the PRC submitted a request for a loan up to $140 million from ADB's ordinary capital resources for tranche 3 on 6 August 2021. Tranche 3 of the MFF will align with the program strategic roadmap to support (i) SME development in the border areas through vocational training capacity enhancement and expansion of the Sino-ASEAN Agricultural Products Trade Center in Baise City, (ii) integrated cross-border e-commerce platforms development for the PRC and Viet Nam, (iii) provision of key infrastructure and trade-related services in BEZs, and (iv) physical and informational connectivity and policy coordination through development of the Sino-Viet Nam Cross-Border Tourism Cooperation Zone in Chongzuo City.
Vice Director, EA
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