Finance Sector Development
In the Spotlight
$200 million in loans will be given to small and medium enterprises (SMEs) run by women in rural Bangladesh to give them access to credit.
Savings and credit cooperatives in rural Nepal are for the first time giving women access to capital to set up small businesses and gain a stronger voice in community affairs.
ADB approved a $60.8 million loan and technical assistance grant to improve Mongolia's credit guarantee system to get more access to finance from commercial banks.
Softer growth prospects for the People’s Republic of China (PRC) and India, and a slow recovery in the major industrial economies, will combine to push growth in developing Asia for 2015 and 2016 below previous projections, says the ADO Update 2015.
The financial system is the lifeline of a country’s economy. It creates prosperity that can be shared throughout society and benefit the poorest and most vulnerable people. Financial sector and capital market development, including microfinance, small and medium-sized enterprises, and regulatory reforms, is vital to decreasing poverty in Asia and the Pacific. Since the Asian financial crisis in 1997-1998, the region’s financial sector has strengthened significantly. However, it still lags substantially behind that of developed economies and room to grow.
$6.7 trillionEmerging East Asia's local currency market at the end of March 2013, a year-on-year expansion of 12.1%
$2.59 billionADB's total microfinance approvals as of June 2014
40% estimated portion of the population in South Asia not served by banks