NADI, FIJI (4 May 2019) — The Asian Development Bank’s (ADB) Board of Governors adopted a resolution to allocate $841.4 million in net allocable income from its 2018 Ordinary Capital Resources (OCR) at the 52nd Annual Meeting in Fiji.
The 2018 net allocable income is $151.3 million higher than in 2017, due mainly to the increase in operation income, partially offset by the increase in the loan loss reserve requirement.
ADB’s ordinary reserve will be allocated $499 million to support the bank’s capital adequacy and provide an earnings base to generate net income. The Asian Development Fund (ADF), which provides grants to ADB’s low-income member countries, will get $259.4 million.
The Technical Assistance Special Fund, which provides a stable and predictable funding source for ADB’s technical assistance (TA), will receive $80 million. Technical assistance is one of ADB’s primary operational instruments for delivering assistance to its developing member countries.
The Financial Sector Development Partnership Special Fund (FSDPSF) will receive $3 million. The FSDPSF provides ADB-administered TA and investment grant support focusing on finance sector development, inclusive finance, and infrastructure finance.
ADB Governors also approved the bank’s annual financial statements. The operating income for OCR reached $889 million, an increase of $164 million from 2017. The 2018 net income was $750 million.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.