Enhancing Resilience with Countercyclical Expenditures Program</h1> <article> <h1>Enhancing Resilience with Countercyclical Expenditures Program</h1> <p>2026-10-22</p> The ongoing conflict in the Middle East poses indirect but material macroeconomic risks for Bhutan through energy, trade, and services channels. While Bhutan has limited direct trade exposure to the Middle East, its high dependence on imported fuel, and narrow domestic revenue base make it particularly vulnerable to external shocks. Recent increases in global oil prices have raised import costs, worsening the current account balance and reducing real incomes. </article> <article> <h1>Support for Withstanding Shocks Through Immediate Fiscal Transfers Program</h1> <p>2026-10-22</p> The SWIFT Program will provide budget support to help the FSM mitigate the adverse economic and social impacts of the fuel price shock arising from the Middle East conflict. The program will support time-bound crisis response measures that smooth fuel price increases, preserve essential services, protect vulnerable households, and strengthen systems for future shock response. </article> <article> <h1>AkLease Green Infrastructure Financing Project</h1> <p>2026-10-14</p> The project involves an EUR50 million senior unsecured loan to AkLease for five years, including an 18 months principal repayment holiday (3.25 years weighted average life). The project is expected to benefit from cofinancing from LEAP 2 for up to $50 million to support the expansion of AkLease's leasing products for renewable energy and energy efficiency across target sectors including energy, transport, water and wastewater management, industry , information and communication technology, and health. </article> <article> <h1>Baku Metro Signaling Modernization and Operations Digitalization Project</h1> <p>2026-10-12</p> The project will support the digital modernization of Baku Metro to enhance safety, reliability, and efficiency amid rising urban mobility demand and aging core systems. It will finance modern train control and dispatch, integrated monitoring and emergency functions, digital asset management, passenger information, and enterprise systems. The project will benefit daily metro users and the wider urban population through safer and more predictable services, improved operational efficiency, and a stronger institutional foundation for sustainable metro operation. </article> <article> <h1>Transforming Climate-Resilient Food Systems and Rural Development</h1> <p>2026-10-09</p> The technical assistance (TA) will support the Republic of Tajikistan in preparing climate-resilient investment projects in agriculture, water, and rural development, and in strengthening institutional capacity for their planning and implementation. </article> <article> <h1>Azerbaijan Railways Electrification, Signaling, and Telecommunication Project (Bilajari–Yalama)</h1> <p>2026-10-06</p> The project comprises the procurement and installation of electrification, signaling, and telecommunication systems (EST) along the railway section of Bilajari-Yalama. These section is part of the country's north-south rail corridor, serving international freight operations (export/import/transit) of Azerbaijan Railways Closed Joint Stock Company (ADY). Most exports go through either the Baku-Boyuk Kesik or Bilajari-Yalama route. </article> <article> <h1>Grasim Sustainable Wood Fiber Value Chain Project</h1> <p>2026-10-06</p> <p>The project will support Grasim's sustainable textile material business with a new lyocell manufacturing facility in Harihar, Karnataka, using advanced technology and largely powered by renewable energy. Lyocell is a wood-based man-made cellulosic fiber (MMCF) and is widely recognized as a more sustainable MMCF than traditional viscose alternatives.</p> </article> <article> <h1>Greater Port Vila Urban Resilience Project - Second Additional Financing</h1> <p>2026-09-28</p> The project is aligned with the following impact: Greater Port Vila is a safe, inclusive, resilient, and vibrant economic hub based on sustainable development. It will retain the outcome of the ongoing project: urban resilience in Greater Port Vila improved. The project will increase the ongoing projects overall impact by further contributing to the vision of Greater Port Vila as a safe, inclusive, resilient, and vibrant urban hub, as articulated in the GPV RUDSAP. </article> <article> <h1>Vakif Inclusive Micro and Small-sized Enterprises Finance Facility Project</h1> <p>2026-09-28</p> <p>The project is a One ADB initiative combining sovereign and nonsovereign (NSO) financing for the client:</p><p>- NSO financing involves a proposed loan of up to $100 million to Vakif. One hundred percent of the proceeds will support micro and small enterprises (MSEs) in less-developed regions including earthquake-affected provinces. At least half of the proceeds will be onlent to WMSEs, thereby fostering financial inclusion and economic resilience. The loan will have a 5-year tenor with a 6-month interest-payment holiday.</p> </article> <article> <h1>Modern Energy-Efficient Polyester Chips Manufacturing Project</h1> <p>2026-09-24</p> The project involves financing the expansion of MSL's polyester chips production capacity to 407 tons per day (from the current 107 tons per day) and refinancing MSL's short-term working capital loans. MSL aims to reduce energy usage and carbon dioxide emissions from its operations by installing energy-efficient machinery. MSL has its factory in Mirsarai Economic Zone, which is about 70 kilometers from Chattogram. </article> <article> <h1>Accelerating Decentralization for Improved Local Governance, Subprogram 1</h1> <p>2026-09-16</p> The proposed program will strengthen the role of subnational governments (SNGs) (comprising provinces, regencies, and cities) by enhancing fiscal coordination, improving digital integration, and expanding subnational financing. These reforms will enable Indonesia to narrow human capital and infrastructure gaps, deliver more inclusive services, and contribute to national development and Sustainable Development Goal (SDG) targets. </article> <article> <h1>Sustainable and Resilient Growth Program, Subprogram 2</h1> <p>2026-09-16</p> </article> <article> <h1>Sustaining Access to and Quality of Education During Economic Difficulties Sector Project (Second Additional Financing)</h1> <p>2026-09-10</p> Mongolia is facing severe economic difficulties. Significant cuts in the education budget for 2017 and beyond greatly constrain the government 's capacity to mitigate further deterioration of education services. This will result in lost opportunities for pre-primary, primary, and secondary education, especially for children who come from disadvantaged backgrounds. </article> <article> <h1>AM Green Ammonia Project</h1> <p>2026-09-09</p> The project is ADB first financing of a green ammonia facility and one of the largest green ammonia developments globally. It involves the design, construction, and operation of a green ammonia plant with a total planned capacity of about 1.09 million tons per annum. The facility will be implemented in two phases, each comprising an ammonia train of 547.5 kilotons per annum. Phase 1 includes the first ammonia train as well as the shared utilities for both phases and will be financed and commissioned first. </article> <article> <h1>Naoero Airlines Aircraft Acquisition Project</h1> <p>2026-08-31</p> ADB will finance the acquisition of a second-hand Boeing (B) 737-800 with low operating hours to replace an aging Boeing 737-300 aircraft. The purchase of the newer and larger B737-800 aircraft is expected to reduce NAC's exposure to higher and more volatile maintenance costs associated with aging aircraft, improve dispatch reliability, and reduce 'aircraft-on-ground' time. </article> <article> <h1>Sustainable Energy Development and Community Empowerment in the Chattogram Hill Tracts Project</h1> <p>2026-08-31</p> The project is aligned with the following impacts: (i) uninterrupted and reliable power supply for rural areas of Bangladesh achieved by 2041 (footnote 19), and (ii) climate resilience of power infrastructure enhanced by 2041 (National Adaptation Plan of Bangladesh (2023–2050). It will have the following outcome: access to efficient and reliable power supply improved in the CHT. </article> <article> <h1>Supporting the Human Resource Development for Education Program</h1> <p>2026-08-27</p> The proposed Human Resource Development for Education Program (HRDEP) will support Sri Lanka in addressing the limited institutional and human capacity to implement reforms at scale. The proposed program aims to place human resource development at the center of change by strengthening teachers, school leaders, and the institutions that support them. The focus on upper secondary education and the General Certificate of Education (GCE) Advanced Level reform continues the reform agenda initiated under the Secondary Education Sector Improvement Program, which the proposed program will complete. </article> <article> <h1>Border Upgrades for Integration, Logistics, and Development Facility</h1> <p>2026-08-25</p> The facility is aligned with the following impacts: (i) BCP facilities and procedures improved; and (ii) cross-border transport and corridor efficiency strengthened (footnotes 4 and 5). The facility will have the following outcome: time and cost of trade along the CAREC transport network reduced. </article> <article> <h1>Promoting Energy Efficiency and Decarbonization</h1> <p>2026-08-21</p> </article> <article> <h1>Tavan Bogd Green Building Project</h1> <p>2026-08-21</p> $30 million or it's equivalent in MNT five-year senior secured loan to Tavan Bogd Holdings LLC for construction of Gerlug Green Apartments project in Ulaanbaatar, the first green certified residential property in Mongolia developed by the private sector. The Project consists of 4 residential towers that will accommodate up to 252 households. The Project will obtain EDGE Level 1 certification, exceeding its minimum 20% efficiency requirement. </article> <article> <h1>Provincial Health Service Strengthening and Modernization Sector Project</h1> <p>2026-08-20</p> The proposed Provincial Health Service Strengthening and Modernization Project will support the government of Mongolia in expanding high quality health service delivery to rural areas of Mongolia through the establishment of four aimag (province) level hospitals to serve as regional diagnostic and treatment centers (RDTCs) in regional hubs.The project is expected to assist the Ministry of Health (MOH) in development and implementation of the health sector human resource policy, establishment of the training system for hospital managers, building capacity for establishment of emergency medical </article> <article> <h1>TUR: Zorlu Electricity Distribution and Rehabilitation Project</h1> <p>2026-08-18</p> </article> <article> <h1>Louis Dreyfus Resilient Smallholder Farmer Project</h1> <p>2026-08-14</p> Louis Dreyfus Company (LDC) is a global, integrated supply chain merchant and processor of agricultural commodities such as grains, oilseeds, cotton, and coffee. The project will finance LDC's permanent working capital needs to support procurement, processing, and export of coffee and cotton from smallholder farmers and aggregators in India, Indonesia, Pakistan, and Viet Nam. </article> <article> <h1>TUR: Rönesans Corporate Infrastructure Loan Project</h1> <p>2026-08-14</p> </article> <article> <h1>Energy Security Emergency Assistance Project</h1> <p>2026-08-11</p> The project will finance emergency fuel imports to sustain essential services including electricity and water supply, food and health logistics, inter-island transport, and waste management. This assistance aims to address the fuel price surge and tourism shortfall caused by the conflict in the Middle East, which have severely restricted the government's ability to sustain essential services. </article> <article> <h1>Build Universal Health Care Program, Subprogram 3</h1> <p>2026-08-11</p> </article> <article> <h1>Terabyte Green Data Center Platform</h1> <p>2026-08-10</p> The project involves ADB's equity investment in TPG Terabyte Co-Invest LP II, a TPG-managed investment vehicle, to support the development and operation of a portfolio of green, AI-ready Tier III++/Tier IV data centers across key locations in India. </article> <article> <h1>Veritas Finance Expanding Access to Finance for Micro, Small, and Medium-Sized Enterprises Project</h1> <p>2026-08-07</p> The project entails the Asian Development Bank (ADB) providing debt financing to VFL to support onlending for business loans to micro, small, and medium-sized enterprises (MSMEs). At least 30% of the proceeds will be directed to eligible women borrowers. The MSMEs financed by VFL are largely microenterprises owned by entrepreneurs from lower-income groups. </article> <article> <h1>Tavan Bogd Cashmere Value Chain and Inclusive Job Creation Project</h1> <p>2026-08-05</p> The ADB proceeds will support the following: a) Gobi's working capital for increased cashmere procurement; b) TBF and TBFP's expansion and remodeling (capex) of KFC and Pizza Hut branches in Ulaanbaatar (UB) and outside covering 2026-2027. </article> <article> <h1>SATSOL Digital Connectivity Project</h1> <p>2026-07-31</p> The project will finance SATSOL's launch of a new fourth and fifth generation (4G/5G) mobile network using shared tower infrastructure, new equipment from an international mobile equipment provider, and satellite-enabled backhaul (where fiber backhaul is not available in rural areas) via its partnership with a satellite data provider. The proceeds of ADB's financing will be used to fund the design, procurement, delivery, installation, and initial operating expenses telecommunications equipment and initial operating expenses. </article> </main></body></html>