Asian Development Bank (ADB)

Since the beginning of the COVID19 pandemic in early 2020, Asian Development Bank (ADB) have committed at least USD 4.68 billion to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 211.50 million for fossil fuels without conditions
  • At least USD 21.00 million for fossil fuels with conditions
  • At least USD 716.36 million for unconditional clean energy
  • At least USD 480.40 million for conditional clean energy
  • At least USD 3.25 billion for other energy

By energy type, Asian Development Bank (ADB) committed at least USD 200.00 million to oil and gas (at least USD 200.00 million to unconditional oil and gas).

Finally, no public finance identified for multiple fossil fuels.

A considerably larger amount of new public finance from Asian Development Bank (ADB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Asian Development Bank (ADB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Updated: 7 April 2021


At least

$232.50 million

Supporting fossil fuel energy



At least

$1.20 billion

Supporting clean energy

Asian Development Bank (ADB)

Since the beginning of the COVID19 pandemic in early 2020, Asian Development Bank (ADB) have committed at least USD 4.68 billion to supporting energy projects through new loans, grants, and guarantees according to their own reporting and other publicly available information. This public finance includes:

  • At least USD 211.50 million for fossil fuels without conditions
  • At least USD 21.00 million for fossil fuels with conditions
  • At least USD 716.36 million for unconditional clean energy
  • At least USD 480.40 million for conditional clean energy
  • At least USD 3.25 billion for other energy

By energy type, Asian Development Bank (ADB) committed at least USD 200.00 million to oil and gas (at least USD 200.00 million to unconditional oil and gas).

Finally, no public finance identified for multiple fossil fuels.

A considerably larger amount of new public finance from Asian Development Bank (ADB) that is not at the project level may also benefit different elements of the energy sector, however this finance is not reported on in a way that can be disaggregated and therefore is not included in the database. This finance is largely made up of (a) investments in financial intermediaries (like commercial banks, private equity firms, or other development funds), (b) budgetary or policy support loans that are cross-cutting across many areas of government, (c) technical assistance, and (d) funding for associated infrastructure like ports or roads that will be primarily used for the transport of energy-related goods.

Many of these public finance commitments are part of programs that existed prior to the COVID-19 pandemic, however they only represent projects that were approved post-pandemic. Recovery spending via Asian Development Bank (ADB) is cross cutting and it is quite subjective to disaggregate what projects are or are not recovery related.

Public money commitments to fossil fuels, clean and other energy in recovery packages, USD billion, as of 7 April 2021

Policies and Finance

MDB Recipient Country Category Policy name Sector Energy Type Mechanism Value committed, USD Date of announcement Policy type Sub-Institution or Programme Receiving entity Stage Arm of Government Primary and secondary stated objective of the policy Policy background Links to official sources Links to additional sources
Asian Development Bank (ADB) Multiple Fossil unconditional Bundled – ADB “Fossil Unconditional” Investments under $100 million since Jan 1 2... Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 11500000 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects ADB investments made in "fossil unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Asian Development Bank (ADB) Multiple Fossil conditional Bundled – ADB “Fossil Conditional” Investments under $100 million since Jan 1 2020 Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 21000000 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects ADB investments made in "fossil conditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Asian Development Bank (ADB) Multiple Other energy Bundled – ADB “Other Energy” Investments under $100 million since Jan 1 2020 Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 1934040000 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects ADB investments made in "other energy" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Asian Development Bank (ADB) Multiple Clean conditional Bundled – ADB “Clean Conditional” Investments under $100 million since Jan 1 2020 Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 280404000 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects ADB investments made in "clean conditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Asian Development Bank (ADB) Multiple Clean unconditional Bundled – ADB “Clean Unconditional” Investments under $100 million since Jan 1 202... Multiple sectors Multiple energy types Loan (Hybrid),loan guarantee (... 316359920 2020050808/05/2020 Fiscal Multiple Multiple Several energy stages Public finance institution This line item reflects ADB investments made in "clean unconditional" projects (as per Energy Policy Tracker methodology) since January 1, 2020.
Project-level data can be accessed here:
http://priceofoil.org/shift-the-subsidies/
Asian Development Bank (ADB) India Other energy Enhancing power generation capacity in Assam Power generation Hydro Loan (Hybrid),loan guarantee (... 231000000 2021010101/01/2021 Fiscal To increase the capacity of electricity available in Assam Electricity generation Public finance institution The Asian Development Bank (ADB) and the Government of India on 30th December 2020 signed a $ 231 million loan to augment electricity generation capacity in the state of Assam through construction of a 120 megawatts (MW) hydroelectric power plant that will enhance availability of electricity for households. This is the third tranche loan for the ongoing Assam Power Sector Investment Programme that was approved by the ADB Board in July 2014. The programme, including its two previous tranches, focuses on enhancing capacity and efficiency of the energy generation and distribution systems in Assam to improve electricity service to end users.

https://web.archive.org/web/20210104131352/
https://pib.gov.in/PressReleasePage.aspx?PRID=1685402 Accessed 15 Jan 2021
Asian Development Bank (ADB) India Other energy Upgrading power distribution system in Bengaluru Other sector Energy efficiency Loan (Hybrid),loan guarantee (... 100000000 2021010404/01/2021 Fiscal Government of India To improve Bengaluru's power distribution system Electricity storage or transmission or distribution Public finance institution In parallel to underground distribution cables, over 2,800 km of fibre optical cables will be installed to strengthen communication network. Moving about 7,200 km of distribution lines underground will help reduce technical and commercial losses by about 30%. The fibre optical cables will be used for smart metering systems, distribution automation system (DAS) in the distribution grid, and other communication networks. The project will install 1,700 automated ring main units adapted with a DAS to monitor and control the distribution line switchgears from the control centre. Beside the $100 million sovereign loan, ADB will provide a $90 million without sovereign guarantee loan for the project to Bangalore Electricity Supply Company Limited (BESCOM), one of five state-owned distribution utilities in Karnataka.

https://web.archive.org/web/20210104130603/
https://pib.gov.in/PressReleasePage.aspx?PRID=1685953 Accessed 15 Jan 2021
Asian Development Bank (ADB) Afghanistan Other energy Energy Supply Improvement Investment Program – Tranche 6 Multiple sectors Multiple energy types Grant 110000000 2020093030/09/2020 Fiscal Government of Afghanistan Electricity storage or transmission or distribution Public finance institution "ADB Project 47282-007: Source of Funding: Asian Development Fund - $110.0 m. The grant is to boost power supply and strengthen Afghanistan’s energy sector by improving its sustainability and promoting cross-border trade in energy. The project will help address Afghanistan’s chronic power shortage by immediately doubling the volume of power imports and ensuring long-term cost-competitive electricity supply. It will facilitate the Afghan system’s first parallel (synchronous) operation with the Uzbek system and the Central Asia Power System (CAPS). Once complete, the project will provide improved access to customers and facilitate 500,000 new connections to households, commercial entities, and industrial customers. NOTE: The project is marked ""true"" for ""visible"" even though it is a ""tranche"" of a larger project approved in 2015 but the original funding was listed as ""false"" to avoid double-counting."
"
https://www.adb.org/projects/47282-007/main#project-pds
https://www.adb.org/news/adb-approves-110-million-grant-enhance-power-supply-afghanistan" Accessed 15 Jan 2021
Asian Development Bank (ADB) Cambodia Other energy Grid Reinforcement Project Power generation Multiple energy types Loan (Hybrid),loan guarantee (... 127800000 2020091010/09/2020 Fiscal Government of Cambodia Electricity storage or transmission or distribution Public finance institution "ADB Project 53324-001: Source of Funding: Concessional ordinary capital resources lending / Asian Development Fund - $127.80 m. The project will support the construction of four 115 kV 230 kV overhead and underground transmission lines and 10 substations in Phnom Penh, Kampong Chhnang, Kampong Cham, and Takeo provinces. It will add 13 circuit-kilometers of 230 kV transmission lines; 36.7 circuit-kilometers of 115 kV transmission lines; 1,475 megavolt-amperes of 230 kV 115 kV 22 kV substation transformer capacity; and 350 megavolt-amperes of 115 kV 22 kV substation transformer capacity. The project will also support EDC in designing, procuring, and operating the first utility-scale BESS in Cambodia, capable of storing 16 megawatt-hours, and in analyzing its performance. This is a desirable size to support multiple applications a standard feature of BESS installations such as (i) smoothing output at 80% from the phase 1, 60-megawatt (MW) ADB solar park in Kampong Chhnang Province; (ii) providing 0.5 hours of curtailment reserve to address daily power outages; (iii) providing primary frequency control; and (iv) providing congestion relief, which allows to defer upgrades in transformer capacity at Grid Substation 6 (a substation near the ADB solar park site).The project is aligned with the following impact: adequate and reliable power supply from environmentally sustainable energy sources ensured. The government's goals include providing access to electricity from 74.8% in 2019 to 95% of all households by 2030."
"
https://www.adb.org/projects/53324-001/main#project-pds
https://www.adb.org/news/127-8-million-adb-loan-help-expand-power-grid-cambodia" Accessed 15 Jan 2021
Asian Development Bank (ADB) Uzbekistan Other energy Power Sector Reform Program (Subprogram 1) Power generation Multiple energy types Loan (Hybrid),loan guarantee (... 200000000 2020092828/09/2020 Fiscal Government of Uzbekistan Electricity storage or transmission or distribution Public finance institution "ADB Project 54269-001: Source of Funding: Ordinary capital resources - $200.0 m. NOTE: Project page includes no descriptive information."
"
https://www.adb.org/projects/54269-001/main#project-pds
https://www.adb.org/news/adb-approves-200-million-loan-improve-power-sector-uzbekistan" Accessed 15 Jan 2021
Asian Development Bank (ADB) Nepal Other energy South Asia Subregional Economic Cooperation Power Transmission and Distribution System Strengthening... Power generation Multiple energy types Loan (Hybrid),loan guarantee (... 200000000 2020062626/06/2020 Fiscal Government of Nepal Electricity storage or transmission or distribution Public finance institution "ADB Project 50059-003: Source of Funding: Concessional ordinary capital resources lending/Asian Development Fund - $200.0 m. The proposed project will complete the reinforcement and modernization of the power supply system in and around Kathmandu in Bagmati Province. This project will begin strengthening distribution systems outside of Kathmandu in a systematic and phased manner starting with the Bharatpur metropolitan area of Chitwan district in Bagmati Province and Pokhara of Kaski district in Gandaki Province, where supply interruptions are frequent and prolonged. The project will also support Province 2, where the quality of electricity supply is poor and about 20% of households are still without access to the national grid. Further, the project will strengthen transmission lines for evacuation of hydropower to the main load center, Kathmandu, and other load centers, while excess power is traded with neighboring countries."
"
https://www.adb.org/projects/50059-003/main#project-pds
https://www.adb.org/news/adb-approves-200-million-loan-modernize-power-supply-distribution-system-nepal" Accessed 15 Jan 2021
Asian Development Bank (ADB) India Other energy Maharashtra Rural High Voltage Distribution System Expansion Program Power generation Multiple energy types Loan (Hybrid),loan guarantee (... 346000000 2020042828/04/2020 Fiscal Government of India Electricity storage or transmission or distribution Public finance institution "ADB Project 50193-003: Source of Funding: Ordinary capital resources - $346.0 m.; Technical Assistance Special Fund - $1.0 m. This first ADB-financed results-based lending (RBL) program in South Asia’s energy sector will help in the early construction and installation of metered HVDS through the installation of about 46,800 kilometers of 11 kilovolt (kV) grid extension lines, construction and upgrading of 121 33/11 kV distribution substations. The program will also build institutional capacity in the Maharashtra State Electricity Distribution Company Limited (MSEDCL) on HVDS. The project would also support the goal of ensuring access to affordable, reliable, sustainable and modern electricity for all NOTE: The project information is being interpreted to mean ""true"" for ""access."""
"
https://www.adb.org/projects/50193-003/main#project-pds
https://www.adb.org/news/adb-provides-346-million-loan-rural-electricity-maharashtra-india
https://www.treasury.gov/resource-center/international/development-banks/Documents/April_2020_Voting_Record.pdf (see April 28, 2020)" Accessed 15 Jan 2021
Asian Development Bank (ADB) Bangladesh Fossil unconditional Reliance Bangladesh Liquefied Natural Gas and Power Project Resources Gas and gas products Loan (Hybrid),loan guarantee (... 200000000 2020073030/07/2020 Fiscal Reliance Bangladesh LNG and Power Limited Exploration or production or processing or storage or transportation Public finance institution "ADB Project 50253-001: Source of Funding: Ordinary capital resources - $100.0 m. LEAP - $100.0 m. The proposed Project will include a natural gas fired power plant (CCPP). The 718 MW CCPP, utilizing re-gasified LNG (RLNG) as fuel, is proposed to be located on land allotted by Bangladesh Power Development Board (BPDB), in Meghnaghat, Narayanganj District. The project initially also included an LNG terminal located near Kutubdia Island. The plant will be located on the banks of the Meghna River, southeast of Dhaka. It will boost national generation capacity by about 4%, reducing the need for electricity imports and the use of environmentally harmful and expensive fuels like coal and oil.ADB will administer an additional $100.0 million via the Leading Asia Private Sector Infrastructure Fund which is capitalized by the Japan International Cooperation Agency. NOTE: The ADB project page does not include an approval date but IJ Global cites a financial close date of July 30, 2020 and ADB issued a news release about the project on July 31, 2020."
"
https://www.adb.org/projects/50253-001/main#project-pds
https://www.adb.org/news/adb-finances-largest-private-gas-power-plant-improve-access-energy-bangladesh
https://ijglobal.com/data/transaction/36019/meghnaghat-gas-fired-power-plant-phase-1-750mw
https://ijglobal.com/data/transaction/36019/meghnaghat-gas-fired-power-plant-phase-i-745mw-ipp" Accessed 15 Jan 2021
Asian Development Bank (ADB) China Clean conditional Xiangtan Low-Carbon Transformation Sector Development Program Multiple sectors Multiple renewable Loan (Hybrid),loan guarantee (... 200000000 2020101313/10/2020 Fiscal Government of China Several energy stages Public finance institution ADB Project 52230-001: Source of Funding: Ordinary capital resources (2 loans - $150.0 m. + $50.0 m.) The Xiangtan Low-Carbon Transformation Sector Development Program will help the municipal government transform public transport through 60 kilometers of dedicated bus lanes with transit signal priority, real-time bus information, transforming street layout for better walking and cycling access, redesigning the access at two railway stations for easy mode-shift, and improving road safety at school zones. The municipal government will construct a new hospital with a green building certificate, including use of passive building design and integrating advanced clean energy technologies, water-saving features, and extensive flood resilient measures using ecosystem-based solutions. An unused government building will also be retrofitted to house the Asia Low-Carbon Training Center, showcasing green and low-carbon building techniques and features. The transformative impacts of physical investment will be augmented by smart city platforms, including intelligent transport, industrial energy and utility management, building energy management, early flood warning, and environmental monitoring assessment systems using information and communication technology and the internet of things.
"
https://www.adb.org/projects/52230-001/main#project-pds
https://www.adb.org/news/200-million-adb-loans-demonstrate-low-carbon-and-resilient-city-growth-model-xiangtan-prc" Accessed 15 Jan 2021
Asian Development Bank (ADB) Indonesia Clean unconditional Geothermal Power Generation Project Resources Other renewable Loan (Hybrid),loan guarantee (... 300000000 2020052828/05/2020 Fiscal PT Geo Dipa Energi (GDE) Electricity generation Public finance institution ADB Project 52282-001: Source of Funding: Ordinary capital resources - $300.0 m. The project will support GDE, a state-owned geothermal company focused on development and operation of geothermal resources, to commission an additional 110 megawatts (MW) of geothermal electricity generating capacity - 55 MW at the Dieng geothermal field in Central Java and 55 MW at the Patuha geothermal field in West Java. It will boost GDE’s capacity to plan and execute projects and undertake government-supported drilling, which aims to attract much-needed private sector investment to develop new geothermal areas. In addition, GDE will provide direct assistance to nearby communities, including women and other vulnerable groups, and help improve livelihoods. NOTE: IJ Global gives a financial close date of August 31, 2020.
"
https://www.adb.org/projects/52282-001/main#project-pds
https://www.adb.org/news/adb-approves-300-million-loan-increase-indonesias-geothermal-electricity-generation
https://www.treasury.gov/resource-center/international/development-banks/Documents/May_2020_Voting_Record.pdf (see May 28, 2020)
https://ijglobal.com/data/transaction/49600/patuha-55mw-and-dieng-55mw-geothermal-power-plants-phase-ii
https://ijglobal.com/data/transaction/49600/java-island-geothermal-power-plant-phase-2-portfolio-110mw" Accessed 15 Jan 2021
Asian Development Bank (ADB) Mongolia Clean unconditional First Utility-Scale Energy Storage Project Power generation Multiple renewable Loan (Hybrid),loan guarantee (... 100000000 2020042222/04/2020 Fiscal Government of Mongolia Electricity storage or transmission or distribution Public finance institution ADB Project 53249-001: Source of Funding: Ordinary capital resources - $100.0 m. The project will install 125 megawatts of advanced BESS making it among the largest battery storage systems globally. The BESS will be resilient to Mongolia’s extremely cold climate and equipped with a battery energy management system enabling it to be charged entirely by renewable electricity. This will then discharge clean electricity to supply peaking power in the central energy system grid. The project will also provide regulation reserve to integrate additional renewable energy capacity in the transmission grid. The country’s renewable energy capacity will be increased through the project, supplying 44 gigawatt-hours of clean peaking power annually on completion. The project will support the integration of an additional 859 gigawatt-hours of renewable electricity into the energy system grid, avoiding 842,039 tons of carbon dioxide emissions annually by 2025. The project will also help strengthen the capacity of the National Dispatching Center to handle power dispatch and grid operations and of the National Power Transmission Grid to operate and maintain the BESS. NOTE: IJ Global lists the financial close date as being May 15, 2020.
"
https://www.adb.org/projects/53249-001/main#project-pds
https://www.adb.org/news/adb-accelerating-renewable-energy-mongolia-advanced-battery-storage-system
https://www.adb.org/news/features/unlocking-mongolias-rich-renewable-energy-potential
https://www.adb.org/news/adb-mongolia-sign-3-loans-boost-covid-19-response-renewable-energy
https://www.treasury.gov/resource-center/international/development-banks/Documents/April_2020_Voting_Record.pdf (see April 22, 2020)
https://ijglobal.com/data/transaction/50990/mongolia-battery-energy-storage-system-125mw" Accessed 15 Jan 2021