ADB approves $100-bn for capital management reforms

The Asian Development Bank (ADB) has approved capital management reforms that unlock $100 billion in new funding capacity over the next decade to address the region's overlapping, and simultaneous crises. The updated Capital Adequacy Framework (CAF) is the latest is a series of multiple initiatives by the ADB aimed at increasing its lending capacity. ADB President Masatsugu Asakawa informs that these important reforms will significantly expand ADB's ability to support a wide range of critical development efforts across Asia and the Pacific, including greater concessional resources for our vulnerable members. These resources will help the region in managing a complex set of overlapping crises, addressing gender inequality, and meeting basic needs in the context of the existential challenge of climate change.