ADB administration and governance
In 1995, the review of the guarantee operations of the Asian Development Bank (ADB) introduced the partial risk guarantee (PRG) as a new instrument to expand guarantee operations. The Board approved a second review of guarantee operations in 1999. In April 2000, the Board approved a review paper on fees for partial credit guarantees (PCGs). The current paper reviews ADB's experience with the PRG and proposes possible improvements to the instrument.