The Asian Development Bank (ADB) has approved the following technical assistance. This technical assistance will improve integration in the ASEAN subregion by building on the Master Plan on ASEAN Connectivity, endorsed by leaders in 2010, and establishing a development partnership mechanism to assist in the wider coordination needed to support ASEAN connectivity. It will also develop models to finance ASEAN infrastructure initiatives and focus on financial due diligence and priority project pipeline development. Amount: $975,000 equivalent financed by the Japan-ASEAN Integration Fund.
The importance and the associated resources required in improving regional connectivity to support economic development are well recognized. Thus prioritizing key projects and identifying alternative forms of financing will help address Asia's large infrastructure need. The Association of Southeast Asian Nations (ASEAN) leaders endorsed the Master Plan on ASEAN Connectivity (MPAC) in 2010. The MPAC represents an in-depth plan of action based on (i) a list of priority projects for ASEAN connectivity, (ii) requirements for institutional and policy coordination, and (iii) recommendations for financing key projects
(i) Resource mobilization due diligence, including financial analysis of infrastructure financing initiatives ;
(ii) Project pipeline formulation and due diligence, and
(iii) Stakeholder consultation process for consensus building among ASEAN members on priorities for infrastructure financing