The Asian Development Bank (ADB) has approved a plan to scale up its operations by 50% over the next decade, leveraging its existing capital base to enhance bank’s impact across Asia and the Pacific.
ADB’s Capital Utilization Plan (CUP) outlines a pathway for increasing ADB’s annual financing commitments from $24 billion in 2024 to exceed $36 billion by 2034. This expanded financing will bolster ADB’s developing member countries’ (DMCs) efforts to address critical development priorities in the region, - said in the Bank’s press-release.
“By utilizing our enhanced lending capacity, the CUP enables us to make strategic investments to address complex challenges while raising the quality and effectiveness of our operations across the region,” - said ADB President Masatsugu Asakawa.
Over the next decade, ADB’s net income is expected to grow steadily. The Bank plans to strategically invest part of this income to assist DMCs in developing high-quality, bankable projects and mobilizing sustainable finance through capital markets. New initiatives include a borrowing facility with both financial and non-financial incentives to promote investments in resilience and sustainability, as well as more flexible instruments to enhance project preparation, according to the press-release.
These initiatives include increasing the share of climate finance to 50% of total commitments and reaching total private sector financing of $13 billion, from both ADB's own financing and direct mobilization, for the year 2030.
South Korea’s customs agency has uncovered a surge in efforts to falsely label foreign goods—mostly from China—as South Korean exports in an attempt to bypass steep U.S. tariffs introduced by President Donald Trump, officials said Monday.
U.S. Defense Secretary Pete Hegseth is under renewed scrutiny after reportedly sharing sensitive military details about a March airstrike on Yemen’s Houthi forces in a private Signal chat that included family members and his personal attorney.
The Israeli army has dismissed a unit commander after a probe into the killing of 15 emergency workers in Gaza found multiple operational failures.
U.S. Defense Secretary Pete Hegseth allegedly shared sensitive military information about Yemen airstrikes in a group chat with his wife and others, raising concerns over his handling of classified details.
A vessel carrying 6,600 tonnes of wheat has docked at Syria’s Latakia port, marking the first major delivery since rebels overthrew former President Bashar al-Assad.
The Russian ruble has emerged as the top-performing currency globally in 2025, registering an impressive 38% appreciation against the US dollar since the beginning of the year, according to a report by Bloomberg.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 16th, covering the latest developments you need to know.
A Russian drone attack injured eight people in the Black Sea port city of Odesa late on Sunday (April 13), a Ukrainian regional official said.
The Russian rouble surged past 81 to the U.S. dollar on Thursday, marking a 40% increase since the beginning of 2025.
In response to President Donald Trump's sweeping new tariffs, a number of global companies are eyeing expansion into the United States to minimize the economic fallout from the trade measures.
Google plans to appeal parts of a recent U.S. court ruling that found it had unlawfully maintained monopoly power in parts of the online ad market, specifically in publisher ad servers and ad exchanges, while the court dismissed other antitrust claims.
The European Central Bank cut its main interest rate by a quarter point on Thursday, citing rising trade tensions following U.S. President Donald Trump’s sweeping tariff campaign. The decision brings the rate down to 2.25 percent, marking the ECB’s seventh cut in the past year.
Nvidia will take a $5.5 billion charge after the U.S. restricted exports of its H20 AI chip to China, citing security concerns. The move targets China's access to advanced tech, impacting Nvidia's key market amid growing global AI competition.
South Korea’s customs agency has uncovered a surge in efforts to falsely label foreign goods—mostly from China—as South Korean exports in an attempt to bypass steep U.S. tariffs introduced by President Donald Trump, officials said Monday.
U.S. Defense Secretary Pete Hegseth is under renewed scrutiny after reportedly sharing sensitive military details about a March airstrike on Yemen’s Houthi forces in a private Signal chat that included family members and his personal attorney.
The Israeli army has dismissed a unit commander after a probe into the killing of 15 emergency workers in Gaza found multiple operational failures.
U.S. Defense Secretary Pete Hegseth allegedly shared sensitive military information about Yemen airstrikes in a group chat with his wife and others, raising concerns over his handling of classified details.
A vessel carrying 6,600 tonnes of wheat has docked at Syria’s Latakia port, marking the first major delivery since rebels overthrew former President Bashar al-Assad.
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