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ADB's reforms aim to unlock $100 bn
Mint Mumbai
|September 30, 2023
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
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%."
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