| Project Detail |
The transaction technical assistance (TA) facility will provide comprehensive project preparation and implementation startup support, including project due diligence, capacity development, policy advice, and other relevant assistance to a series of ensuing projects under the Asian Development Bank (ADB) 2024-2025 Peoples Republic of China (PRC) project pipeline that addresses environmental and climate change challenges. The project proposals comprise (i) Hainan Disaster Risk Financing and Resilience Project, (ii) Industrial Park Decarbonization Project, (iii) Shandong Qixia Ecological Conservation Demonstration Project, and (iv) South Dongting Lake Wetland Ecological Restoration and Sustainable Development Project. The four project proposals are aligned with the ADBs PRC Country Partnership Strategy (CPS) 2021-2025 to address environmentally sustainable development and climate change adaptation and mitigation.
Project Name Supporting Climate Resilience and Ecological Sustainability Projects
Project Number 56194-001
Country / Economy China, Peoples Republic of
Project Status Approved
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 10018-PRC: Promoting Climate Change Resilience and Ecological Protection
Technical Assistance Special Fund US$ 1.60 million
Regional Cooperation and Integration Fund US$ 400,000.00
Strategic Agendas Environmentally sustainable growth
Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector
Agriculture, natural resources and rural development / Land-based natural resources management
Finance / Finance sector development
Gender Equity and Mainstreaming Effective gender mainstreaming
Description
The transaction technical assistance (TA) facility will provide comprehensive project preparation and implementation startup support, including project due diligence, capacity development, policy advice, and other relevant assistance to a series of ensuing projects under the Asian Development Bank (ADB) 2024-2025 Peoples Republic of China (PRC) project pipeline that addresses environmental and climate change challenges. The project proposals comprise (i) Hainan Disaster Risk Financing and Resilience Project, (ii) Industrial Park Decarbonization Project, (iii) Shandong Qixia Ecological Conservation Demonstration Project, and (iv) South Dongting Lake Wetland Ecological Restoration and Sustainable Development Project. The four project proposals are aligned with the ADBs PRC Country Partnership Strategy (CPS) 2021-2025 to address environmentally sustainable development and climate change adaptation and mitigation. They contribute to the PRCs aspiration and commitments under the PRCs 14th Five-Year Plan (2021-2025) to achieve a higher quality growth._
Project Rationale and Linkage to Country/Regional Strategy
The PRCs economic development process over the past four decades has been unprecedented in its history. It has transformed a low-income country in 1980 to an upper middle-income country by 2015. During the same period, the real gross domestic product (GDP) grew twenty-six-fold. However, the relentless industrialization, along with the rapid infrastructure development and urbanization, have led to significant environmental costs. In 2022, Yale Universitys Environmental Performance Index ranked the PRC 160th out of 180 countries on 55 environmental categories, including the state of air, water, soil, oceans, and biodiversity. Furthermore, partly due to the use of coal as its primary energy source, the PRC has been the worlds largest carbon emitter since 2006. As the annual average temperature in some parts of the world has surpassed 1.5 degrees Celsius above the pre-industrial level, the effect of global warming has led to climate change impacts including rising sea levels, more frequent and intensive flooding and drought, wildfire and other extreme weather patterns.
To address the environmental and climate change challenges, the PRC has been shifting its development strategy from quantity (e.g., based on GDP and physical outputs) to quality (e.g., based on long-term environment and climate impact sustainability). In this context, ADB has been working with the PRC government to design and develop projects to scale up the countrys environmental and climate change finance and investments. Aligned with the PRCs current development phase as an upper middle-income country, the proposed projects will support (i) enhanced green development and climate change adaptation and mitigation in the PRC; (ii) model approaches for innovative project design and financing structure for improved demonstration and replication; (iii) knowledge development, institutional strengthening, good governance, and private sector development; and (iv) creation of regional and global public goods through facilitations of cross border investments and experience sharing. |
