Special Drawing Rights Conversion Option for Legacy Asian Development Fund Loans

Date: April 2012
Type: Financing Documents
ADB funds and products


The Board of Directors of the Asian Development Bank (ADB) approved the Asian Development Fund (ADF) currency management proposal in the fourth quarter of 2005 to improve the currency management practice of ADF and to benefit its borrowers. As an application of the Board-approved currency management exercise, this paper serves to inform the Board of Directors that ADB will offer a full-fledged special drawing rights (SDR) approach to ADF legacy loans to bring ADF in line with the International Development Association’s (IDA) currency management practice.


  • Executive Summary 
  • Introduction 
  • Analysis of ADF Legacy Loans 
  • Rationale for the SDR Conversion Option 
  • SDR Conversion Option and Implications 
  • Summary 
  • Appendix