Press Releases

Wind Power Plant, GRPO

On October 13, the Asian Development Bank (ADB) announced that it had invested US$8 million in green bonds (*) in Georgia using the JICA-funded "Leading Asia's Private Infrastructure Fund" (LEAP). This includes $4 million in direct investment from ADB and $4 million from LEAP. These green bonds are the largest to be issued on the Georgian securities market and the first to be locally listed in the country. This investment from ADB and LEAP is expected to develop a bond market that will contribute to climate change projects in the region.

The project will invest in the green bonds issued by the Georgia Renewable Power Operations (GRPO), which is engaged in hydro power and renewable energy projects in Georgia. The proceeds from the green bond issuance will be used for the continued operation of these projects.

LEAP is a part of the follow-up measures for the “Partnership for Quality Infrastructure,” which was announced by the Japanese government on November 21, 2015. Targeting high-quality private infrastructure projects in the Asia-Oceania region, the fund provides assistance for such projects organized under various arrangements, including public-private partnerships. In March 2016, JICA approved an investment of $1.5 billion in private sector investment financing for LEAP. Providing support for a wide range of sustainable infrastructure projects undertaken by the private sector in ADB member countries of the Asia-Pacific region, LEAP is directed at projects in fields such as the reduction of greenhouse gas emissions, energy efficiency, and the provision of medical services at reasonable prices.

JICA will continue collaborating with countries and international organizations to promote quality infrastructure investment and contribute to social and economic development in developing countries and regions in line with the Sustainable Development Goals (SDGs).
(*) Green Bond: A bond issued to raise funds for environmental initiatives such as global warming countermeasures and renewable energy.

• ADB’s News Release