Supporting Financing Environmentally Sustainable Growth in Infrastructure Project (ADB-57291-002)

Countries
  • India
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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Feb 15, 2024
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.
Borrower
Government of India
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Infrastructure
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 0.23 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.
Project Cost (USD)
$ 0.23 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.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ ADB website

Updated in EWS Aug 21, 2024

Disclosed by Bank May 6, 2024

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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.

According to the Bank’s website, the Asian Development Bank (ADB) is supporting the India Infrastructure Finance Company Limited (IIFCL) with the design of a financing facility for sustainable climate-resilient infrastructure. The Financing Environmentally Sustainable Growth in Infrastructure Project aims to address India’s climate financing challenges by designing suitable financing options that can optimally leverage limited public funding to rapidly scale provision of green and sustainable infrastructure, including at the subnational level. The facility will support projects across the infrastructure cycle through various financing modalities and will facilitate building capacity in multiple and diverse stakeholders (e.g., developers, service providers, and lending institutions) in incorporating sustainability ratings and/or criteria while designing and financing public–private partnership (PPP) projects in selected infrastructure sectors.

Under this technical assistance (TA), ADB will hire consultants to support the IIFCL with the design and implementation of a sustainability framework and financing instruments for green and socially responsible infrastructure projects.3 The consultants are expected to design a rating and impact assessment methodology for environmentally sustainable projects in selected infrastructure subsectors, and help improve the IIFCL’s institutional capacity to evaluate and support financing for environmentally sustainable infrastructure projects. In addition, the consultants will design and launch targeted risk mitigation and blended finance instruments that could be utilized to generate institutional investor interest in green infrastructure investments in India.

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

The TA financing amount is $225,000, which will be financed on a grant basis by ADB’s Technical Assistance Special Fund (TASF-other sources). The government will provide counterpart support in the form of counterpart staff, office and housing accommodation, office supplies, secretarial assistance, domestic transportation, and other in-kind contributions.

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, India Infrastructure Finance Company Limited provides financial services. The Company offers long term funds and direct lending to social and commercial infrastructure industries. India Infrastructure Finance serves customers worldwide.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - India Infrastructure Finance Company Limited Investor -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CONTACT INFORMATION

Project Officer: Sanjeev Kaushik
Designation: Principal Financial Sector Specialist- Asian Development Bank
Email: skaushik@adb.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

How it works

How it works