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.
Counting is underway in Armenia’s parliamentary elections, with the results of the vote set to determine the makeup of the National Assembly and sha...
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million peop...
The Iranian national football team is set to arrive in North America for the World Cup after finally securing travel documents, but a dispute over U.S...
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships ...
Sirens rang out across multiple areas of Israel on Sunday night after missiles were launched from Iran towards the country, the Israeli military said...
At a major Asian Development Bank summit in Samarkand, investors outlined a compelling vision for Georgia as a digital, transport and energy hub. The potential is clear, but delivering it remains the greater challenge.
Samarkand is hosting the 59th Annual Meeting of the Asian Development Bank (ADB), where global leaders have gathered to discuss regional growth, as the bank unveils a major $70 billion initiative to strengthen energy and digital connectivity across Asia and the Pacific.
Afghanistan’s foreign ministry says the Asian Development Bank (ADB) has pledged continued cooperation after talks in Kabul on aid coordination, bilateral ties and job creation.
President of Azerbaijan Ilham Aliyev received a delegation from Asian Development Bank (ADB), led by Masato Kanda, the president of the bank, on 14 November.
Counting is underway in Armenia's elections. The results of the vote are set to determine the political direction of the country of three million people for the next few years. Prime Minister Nikol Pashinyan is hoping to fend off challenges from several pro-Russia candidates to secure a third term.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
More than 6,000 people gathered outside a vote-counting centre in Seoul on Friday night, demanding this week’s local elections be repeated after ballot shortages left some voters unable to cast their ballots.
Azerbaijan's Foreign Ministry has confirmed the number of casualties its citizens suffered as a result of the 5 June drone attacks on the cargo ships Natra and Zircon in the Sea of Azov. In a statement, it said four Azerbaijani citizens were killed and four others were injured.
Counting is underway in Armenia’s parliamentary elections, with the results of the vote set to determine the makeup of the National Assembly and shape the country's political direction for the foreseeable future. But in Armenia, the final result is not decided by vote percentages alone.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment