Japan Bank for International Cooperation (JBIC) and the Asian Development Bank (ADB) are setting up a cofinancing scheme, through which both multilaterals will be contributing towards loans aiming at supporting the development of key Asian economies. It is the first time the two institutions have joined forces to co-finance overseas development loans.


So far the two development banks have signed a framework agreement, outlining how the planned Accelerated Cofinancing Scheme with ADB (ACFA) will be set up. This agreement follows an earlier memorandum of understanding signed between JBIC and ADB in May.
The ACFA programme has a number of specific aims, with the loans being used to improve infrastructure projects to improve the investment climate in certain economies and regions, as well as encourage regional cooperation.


The promotion of energy efficiency is another area being targeted by ACFA, with the programme intending to improve access to energy, stable energy supply and renewable energy sources.