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THE Asian Development Bank (ADB) has expanded its policy-based lending to help more Developing Member Countries (DMCs) better respond to crises in the next two years. ADB has approved a ceiling of up to $18 billion to help DMCs like the Philippines address gaps in financing requirements in their pursuit…
With over 50 years’ experience working in the region, ADB plays a vital role in helping its developing member countries mitigate and adapt to climate change.
India on Wednesday asked multilateral lending institutions like the Asian Development Bank (ADB) to extend support to developing countries to prevent the COVID-induced health crisis from turning into a full-blown economic catastrophe. Addressing the 54th annual meeting of the board of governors of the ADB, Finance Minister Nirmala Sitharaman also underlined the need for a "coordinated and inclusive" global strategy to avoid the long-term debilitating impact of the pandemic on the developing economies. "Amidst this crisis, multilateral institutions, such as the ADB, are needed more than eve...