ADB's reforms aim to unlock $100 bn

The Asian Development Bank (ADB) announced on Friday that it has approved reforms in capital management, that are likely to unlock about $100 billion additional funding capacity for the next decade to tackle major crises, including climate change, in Asia

- Rhik Kundu

The increased funds will be further leveraged by mobilizing private and domestic capital to address various crises, ADB said in a statement."Reforms were introduced through update of ADB's capital adequacy framework. It expands the bank's annual new commitment capacity to more than $36 billion-an increase of approximately $10 billion, or 40%."