<article>The <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Asian+Development+Bank" target="_blank" rel="noopener noreferrer">Asian Development Bank (ADB)</a> is setting up a trust fund that will invest in high-level technology (HLT) integrating with innovative solutions in the design and implementation of its projects in Asia and the Pacific.</article>

The <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Asian+Development+Bank" target="_blank" rel="noopener noreferrer">Asian Development Bank (ADB)</a> is setting up a trust fund that will invest in high-level technology (HLT) integrating with innovative solutions in the design and implementation of its projects in Asia and the Pacific.
The Government of Japan will be the first donor to the fund.
Targeted to be operational by July, the HLT Fund will provide grants for technical assistance projects, investment projects, and recruitment of technology experts to promote the integration of HLT and innovative solutions throughout the project cycle — from identification to implementation — of ADB-financed and administered sovereign and non-sovereign projects.
HLT Fund is expected to encourage more widespread adoption of HLT to address development challenges in ADB’s developing member countries.
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Among the broad range of technologies and innovative solutions the HLT Fund will be backing are either new or need scaling-up, not only to improve project impact but also to develop the countries’ technological capability.
The fund may be used for feasibility studies, detailed designs, knowledge transfer, policy advice, pilot and demonstration activities, among others.
Japan’s deputy prime minister and ADB governor Taro Aso said the country welcomes and supports ADB’s initiative to incorporate advanced technologies into projects.
&#8220;Japan has been promoting quality infrastructure in Asia, collaborating closely with ADB. To further strengthen the partnership, Japan will provide $40 million over two years to the new trust fund for HLT,&#8221; Aso said in his speech during the opening session of the four-day 50th Annual Meeting of ADB’s Board of Governors in Yokohama which culminated on Sunday (May 7).
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ADB president Takehiko Nakao said many developing member countries find it challenging to introduce HLT in their countries due to lack of resources and limited institutional experience.
&#8220;ADB appreciates Japan’s support in the establishment of the much needed HLT Fund. This will pave the way for promoting more advanced and cleaner technology in our operations,&#8221; Nakao said.
The Manila-based regional bank intends to enhance its use of HLT in areas such as climate change, smart grids, mass energy storage, energy efficiency, renewable energy, toll/ticketing systems, intelligent transport systems, mass transit, smart cities, waste-to-energy technology, desalination, and remote sensing technology.
A new procurement framework, approved by the ADB Board of Directors on 12 April, will place more weight on quality and help promote HLT facilities in ADB-financed projects.
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ADB to set up fund to invest in hi-tech projects in Apac

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