In Short : The Asian Development Bank (ADB) and French Development Agency (AFD) have doubled their co-financing target to \$6 billion for 2025–2028. The expanded partnership will support clean energy, transport, and nature-based projects in Asia-Pacific. Having already mobilized \$4.64 billion since 2022, ADB and AFD aim to accelerate low-carbon growth and boost climate resilience across the region.
In Detail : PARIS, FRANCE — The Asian Development Bank (ADB) and Agence Française de Développement (AFD) signed an amendment to their Partnership Framework Agreement today, raising their joint cofinancing target to $6 billion for the period 2026–2028 from their previous 3-year target (2023–2025) of $3 billion. The additional cofinancing will support activities in key sectors.
The amendment reflects the strong momentum and strategic alignment between the two institutions. It was signed by ADB President Masato Kanda and AFD Chief Executive Officer Rémy Rioux in Paris.
“AFD is a trusted partner of ADB, and our strengthened collaboration shows how we can translate shared goals into real results for people and the planet,” said Mr. Kanda. “Doubling our cofinancing ambition to $6 billion is a decisive step in our support for Asia and the Pacific’s transition to low-carbon, resilient growth. The expanded target will accelerate funding for clean energy, sustainable transport, nature-positive projects, and other priorities ADB’s developing member countries have identified.”
Since the framework agreement was signed in October 2022, ADB and AFD have jointly mobilized $4.64 billion in cofinancing, exceeding the initial $3 billion target. This includes $3.2 billion from ADB and $1.44 billion from AFD.
“Our partnership with ADB is a cornerstone of AFD’s international development cooperation in Asia,” said Mr. Rioux. “Together, we are demonstrating how public development banks can work as a system to deliver solutions at scale. This $6 billion commitment is both a sign of our trust in each other and of our shared ambition to respond to the region’s most pressing challenges.”
The updated agreement reflects ADB and AFD’s ambition to not only scale up joint financing but to strengthen operational coordination. The organizations will continue to pursue opportunities for joint project preparation to streamline implementation and reduce transaction costs for clients.
The amendment comes ahead of the next ADB–AFD high-level meeting scheduled for September 2025 at ADB headquarters in Manila, Philippines, where both organizations are expected to review strategic priorities and operational progress.
ADB is a leading multilateral development bank supporting sustainable, inclusive, and resilient growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
