Funds and Resources
In the Spotlight
ADB's Board of Governors has approved a groundbreaking initiative to combine the lending operations of the bank’s Asian Development Fund (ADF) with its ordinary capital resources (OCR) balance sheet.
ADB and IFC are providing loans of $300 million to Ooredoo Myanmar for the rollout of a mobile telecommunication network across Myanmar.
ADB President Takehiko Nakao met with Republic of Korea Deputy Prime Minister and Strategy and Finance Minister, also ADB Governor, Kyung Hwan Choi and signed an MOU on Enhancements to Cofinancing Arrangements. This will provide $600 million of concessional loans to support ADB sovereign projects and programs. Read related news release.
The Asian Development Fund is crucial for improving lives of this most vulnerable group in the region.
Most of ADB's lending comes from its ordinary capital resources, offered at near-market terms to lower- to middle-income countries. ADB also provides loans and grants from Special Funds, of which the Asian Development Fund is the largest. The Asian Development Fund offers loans at very low interest rates and grants that help reduce poverty in ADB's poorest borrowing countries.
Thanks to robust partnerships with its development partners, ADB achieved $22.9 billion in operations in 2014 by leveraging $9.2 billion in cofinancing—a record high for ADB—with $13.7 billion of its own resources.