MANILA, Sept 29 — The Asian Development Bank (ADB) unveiled new capital reforms on Friday that will unlock US$100 billion in new financing capacity over 10 years as the lender...
MANILA, Sept 29 — The Asian Development Bank unveiled new capital reforms on Friday that will unlock US$100 billion in new financing capacity over 10 years as the lender expands its development and anti-poverty mission to tackle climate change and other global crises.
ADB’s move to stretch its balance sheet follows similar measures announced by the World Bank earlier this year that will yield a US$50 billion increase in lending over a decade. But the ADB’s effort will yield twice the new lending on an “apples to apples” comparison, ADB Managing Director General Woochong Um told Reuters in an interview.
So as ADB took a more “granular” approach to analysing risks, and adjusting downward estimates of unexpected losses, the lender had more room to squeeze new lending from its capital structure than some other banks had, Casali said. The World Bank said on Thursday it was proposing new capital measures that would add more than US$100 billion in new lending over a decade on top of the US$50 billion yielded by previous measures. These include use of debt-like hybrid capital and increased use of loan portfolio guarantees.
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