Preparing the Pacific Renewable Energy Investment Facility, Phase 3 (ADB-49450-038)

  • Marshall Islands
  • Micronesia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 23, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 3.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Feb 15, 2023

Disclosed by Bank Dec 27, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed transaction technical assistance (TA) facility is aligned with ADB's Strategy 2030 operational priorities (OPs) 1, 2, 3, 4, 6 and 7 and aims to:

(i)conduct required due diligence, provide project preparation, procurement, pre-implementation support, capacity building, and policy recommendations for two ensuing climate-adapted cross-sectoral integrated energy projects for approval in 20232025 under the Pacific Renewable Energy Investment Facility (PREIF)._

(ii)provide implementation support for the ensuing projects, and for other ongoing PREIF projects, as needed and subject to funds availability.

(iii)assess the feasibility of, and, as appropriate, design a successor investment facility to replicate the PREIF's streamlined and programmatic approach, which has resulted in efficiency gains and outpaced ADB overall in project processing time and start-up compliance._This facility will be designed to align with the Asian Development Bank's (ADB) recent policy directions, including but not limited to the Energy Policy 2021, the Fragile and Conflict-Affected Situation and Small Island Developing States Approach 2021, and Paris Agreement alignment by 2025._

(iv)identify potential eligible projects for processing under the PREIF and the successor facility, if approved, to help achieve ADB's $100 billion target for financing climate change mitigation, adaptation, and resilience by 2030.

The Pacific Renewable Energy Investment Facility (the Facility), approved in June 2017, is designed to finance a large number of small-value renewable energy projects in the 11 smaller Pacific island countries (PIC-11). The facility supports the PIC-11 in transforming their power sectors from diesel to sustainable renewable energy generation sources; and supports sector reform, private sector development, and capacity building. The proposed F-TRTA will prepare additional ensuing projects and support ongoing projects under the facility and will include knowledge and support and capacity building components. The proposed TA is expected to support the PREIF across the remainder of its 10-year implementation period.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
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ADB Team Lead

Project Officer
Tiangco, Cinderella C.
Pacific Department

Project contacts not available at the time of disclosure.



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How it works