September 13, 2021
The Asian Development Bank (ADB) announced that a $35 million deal, including the JICA-funded LEAP Fund, has been signed with the Electric Networks of Armenia Closed Joint-Stock Company (ENA), which comprises an investment of $20 million in a direct loan from ADB and $15 million from LEAP. As the first loan to the private sector in Armenia through a LEAP facility, it is expected to facilitate long-term financing for the private sector that is not readily available in the country. The project will consist in reconstructing and modernizing electricity distribution networks, thereby enabling ENA to provide an efficient and reliable energy supply for their 1 million customers, especially in provincial areas.
The LEAP Fund is a part of the follow-up measure for the “Partnership for Quality Infrastructure,” which was announced by the Japanese government on Nov. 21, 2015. It targets high quality private infrastructure projects in the Asia-Oceania region, and provides assistance for them under various arrangements, such as public-private partnerships. In March 2016, JICA approved a $1.5 billion investment in private sector investment financing for the LEAP Fund. The LEAP Fund provides support for a wide range of sustainable infrastructure projects undertaken by the private sector in ADB member countries of the Asia-Pacific region, and it is directed at projects in fields such as energy efficiency, reduction of greenhouse gas emissions, and provision of medical services at reasonable prices.
JICA will continue its collaboration with countries and international organizations to promote quality infrastructure investment and contribute to social and economic development in developing countries and regions based on the Sustainable Development Goals (SDGs).