SASEC Total Project Investments Break $5 Billion
24 April 2014
SASEC project-based investments in transport, energy, and trade facilitation are growing in number and value. Since the first road corridor project worth $133 million was approved in 2001, member countries have focused on strengthening regional linkages that promote economic growth and foster regional cooperation through loan and grant investments cumulatively worth $5.36 billion by April 2014.
Supporting 30 projects across the SASEC sectors (21 in transport, 7 in energy, and one each in trade facilitation, and information communications technology [ICT]), the volume share between the sectors is seen in the figure to the left.
The largest share of total financing is seen in transport ($4.65 billion). Breaking down the share within the transport sub-modes, $3.83 billion has been invested in road projects; $670 million in railways; $100 million in airports; and $42 million in seaport. Six of the 21 transport projects (3 in road and 3 in rail, together worth $1.36 billion) are tranche approvals of wider multi-tranche financing facility investment programs that have committed funding of more than $3.12 billion.
Of the total $5.36 billion, the Asian Development Bank (ADB) has provided financing worth $3.215 billion, and the four SASEC member countries have mobilized counterpart funding of $2.11 billion.
Since 2001, ADB has also facilitated funding for 54 technical assistance projects, in support of SASEC-related loans and grants, totaling almost $55 million. Of this, almost $40 million has been specifically for regional technical assistance support in the following sectors: transport, transport management, energy, ICT, multisector, public sector management, industry and trade, and finance.