Finance Sector Development
In the Spotlight
ADB has approved a $100 million loan that will be extended to four financial institutions for to help meet the growing demand for credit and leases for small businesses and entrepreneurs.
A small investment during very tough times, the Afghanistan International Bank is growing exponentially and is helping create thousands of jobs in the country.
Globally, more than 2 billion people do not have access to financing. In response, ADB set up a program to bridge this gap, ensuring financial services reach the poor.
More businesses will soon be able to access credit in Papua New Guinea following the activation of an online registry that enables lenders to easily accept moveable property, as collateral.
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.