Asian Development Fund

Chair's Summary

Asian Development Fund X Fourth Donors' Meeting
Madrid, Spain, 1-2 May 2008

1. Asian Development Fund (ADF) deputies, representatives from ADF recipient countries, Asian Development Bank (ADB) Management and staff, observers from other international development institutions and ADB's Board of Directors met in Madrid, Spain, on 1-2 May 2008 for the final meeting of the ADF X replenishment. Ms. Isabel Riaño, Director General for International Finance, Ministry of Economy and Finance of Spain, welcomed participants. Addressing the meeting, President Kuroda emphasized that contributions to ADF will help developing Asia-Pacific countries meet Millennium Development Goal targets, and bring better opportunities to people living in the region's poorest countries. Representatives expressed their appreciation to the Government of Spain for graciously hosting the meeting and for the excellent arrangements.



2. In discussing the revised ADF X results framework, donors noted that the framework will evolve as ADB gains experience during implementation. Although the results framework for ADB as a whole is still to be approved by the Board of Directors, Management confirmed that the agreed baselines and targets for ADF will be preserved. Donors agreed on the ADF results framework that is appropriate for monitoring ADF X.



3. The ADF X replenishment discussions concluded in Madrid. Donors endorsed a total replenishment size of SDR7.1 billion ($11.3 billion), consisting of SDR6.9 billion for ADF X and SDR0.2 billion (equivalent to 3% of the total replenishment) for the fourth replenishment of the Technical Assistance Special Fund. Of the total, donors pledged new burden share contributions of SDR2.6 billion (US$4.2 billion), plus some additional contributions. Brunei Darussalam and Ireland participated in their first ADF negotiations. Contributions from regional donors exceeded those of nonregional members for the first time in ADF replenishments.



4. The Executive Summary of the Donors' Report, the official record of the replenishment discussions, is attached.