ADB administration and governance
|Series:||Board of Directors' Report|
The ADB Board of Directors continued to play its vital role in overseeing operations, guiding the institution as it responded to the economic crisis and worked to improve institutional and development effectiveness, with approvals exceeding $16 billion. The Board supported the establishment of the $3 billion Countercyclical Support Facility to help member countries hit by the crisis, approved an additional $400 million for the poorest members, and expanded the Trade Finance Facilitation Program to $1 billion. Reforms to improve ADB's insitutional effectiveness and accountability to shareholders and beneficiaries included the Safeguard Policy Statement, updating and superseding the policies on involuntary resettlement, indigenous peoples, and environment. The Board also approved a new Energy Policy. Internally, it established the Human Resources Committee to provide guidance on human resources management.