The Multilateral Cooperation Center for Development Finance (MCDF) has approved a funding proposal to enhance cross-border connectivity across the Association of Southeast Asian Nations (ASEAN) region.

The USD 2.69 million grant will support a joint three-year program to enhance ASEAN countries’ capacity to prepare bankable cross-border infrastructure projects through technical advice and training. The program will be implemented by the Asian Infrastructure Investment Bank (AIIB) and the ASEAN Secretariat.

The MCDF grant will contribute directly to AIIB’s pipeline development in the ASEAN region by providing preferred access and visibility into potential investment opportunities at early stages of project development. The dedicated upstream technical assistance will support the development of high-quality, multi-country cross-border connectivity projects, in line with International Financial Institution (IFI) standards and AIIB’s thematic priorities.

The program was approved by MCDF’s Governing Committee during its meeting (pictured below) held in Washington D.C. on 11 October. The MCDF Governing Committee decides on all funding proposals brought to MCDF.