Safeguard Policy Statement & Strategy 2020 Midterm Review
Appendix 6: Investment Climate Facilitation Fund
The Investment Climate Facilitation Fund (ICFF) was established by the Government of Japan (GOJ) and the
Asian Development Bank (ADB) in 2008 as a trust fund under the Regional Cooperation and Integration
Financing Partnership Facility (RCIFPF) of ADB.
The objective of ICFF is to promote investments in ADB's developing member countries (DMCs) and facilitate
regional cooperation and integration (RCI) through the construction of basic infrastructure, improvements in
the investment climate, capacity building, and promotion of good governance, among others.
Activities to be supported by ICFF are projects that:
a.
b.
C.
d.
e.
f.
require collective efforts and actions of two or more countries to jointly respond to cross-border issues;
are national in nature, but with significant regional dimensions and/or implications;
facilitate regional policy dialogue, including the establishment of regional policies for greater RCI;
support research and promote knowledge generation and dissemination among DMCs in the area of
RCI;
strengthen institutional capacity of regional and/or subregional groupings; or
support regional partnership building with international institutions.
All ADB DMCs are eligible for support from ICFF. Funding priority will be given to projects that promote
financial sector development and regional investment. Likewise, projects which will promote the visibility of
ICFF as well as those which will be implemented in cooperation with Japanese aid agencies will be prioritized.
ADB has been appointed by GOJ as the administrator of ICFF.
Project implementation, supervision, and monitoring are conducted by the concerned departments and
offices following ADB's standard policies, procedures, and guidelines, including consulting services and
procurement, social and environmental safeguards, financial management and reporting, and anticorruption
and governance, as amended from time to time.
Total funds committed amounted to approximately $31.5 million as of 31 March 2016.
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