Donors agree $4bn extra funds to ADB
Donors have agreed to allocate additional funds of over $4 billion for the Asian Development Bank's Asian Development Fund and Technical Assistance Special Fund for the four years from 2021 to 2024.
Of the total, more than $2.3 billion - or 58% - will be funded by contributions from 30 donors including two new donors: Azerbaijan and the Philippines.
The remaining $1.7 billion will be funded by internal resources, including net income transfers from ADB's ordinary capital resources and income from ADF's liquidity investment. The total fund size is expected to increase further as three more donors confirm their pledges,' the bank noted.
The total size of the additional funds represents a 7% increase in comparison to the previous allocation, which covered the 2017–2020 period.
