In Focus: General Capital Increase V
UPDATE. The fifth general capital increase (GCI V) tripled ADB's capital base to about $165 billion.
The Asian Development Bank’s (ADB) Board of Governors agreed in 2009 to triple ADB’s capital base from $55 billion to $165 billion. This gave ADB the much-needed resources to respond to the global economic crisis, to pursue its longer-term development priorities in Asia and the Pacific, and to accelerate implementation of its long-term strategic framework for 2008–2020 (Strategy 2020).
Why is GCI V needed?
About 900 million people in Asia still live below the poverty line of $1.25 a day. A resource gap estimated at $53 billion a year compromises Asia's efforts to achieve the Millennium Development Goals. To support the priority investment needs of its developing member countries, particularly given the ongoing global economic crisis, a capital increase for ADB - the leading development bank based in the region - was essential.