Business

ADB appoints Scott Morris as VP for East, Southeast Asia, and the Pacific

The Asian Development Bank (ADB) has appointed Scott Morris as Vice-President (East and Southeast Asia, and the Pacific) for a period of 3 years. He will be responsible for the management of the operations of ADB’s East Asia Department, Southeast Asia Department, and Pacific Department.&n...

Business

ADB, Deutsche Bank sign deal to push up supply chain financing in Asia

The Asian Development Bank (ADB) and Deutsche Bank have signed a risk participation agreement to enhance access to financing for small and medium-sized enterprises (SMEs) in Asia and the Pacific. The agreement was signed between ADB’s Trade and Supply Chain Finance Program (TSCFP) and Deu...

Business

Global trade finance gap grows to $2.5 trillion in 2022

The global trade finance gap grew to a record $2.5 trillion in 2022 from $1.7 trillion two years earlier, as rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing, according to the 2023 Trade Finance Gaps, ...

Business

ADB okays more fund to boost rural connectivity of Bangladesh

The Asian Development Bank (ADB) has approved a $190 million additional funding for the ongoing Rural Connectivity Improvement that is upgrading rural roads, making agricultural areas more productive, and improving socioeconomic centers in rural Bangladesh.“This is ADB’s second additiona...

Business

ADB appoints Fatima Yasmin as Vice-President for Sectors and Themes

The Asian Development Bank (ADB) has appointed Fatima Yasmin as Vice-President for Sectors and Themes for a period of 3 years. Yasmin is expected to join ADB in late August. She will be responsible for management of the newly created Sectors Group and the Climate Change and Sustainable Developm...

Business

ADB approves $400m loan to Bangladesh to advance reforms

The Asian Development Bank (ADB) on Tuesday approved a $400 million loan to Bangladesh to advance reforms in domestic resource mobilization, improve efficiency and productivity of public spending, and help small businesses, especially women-led businesses to access low-cost innovative bank financing...

Business

$500m ADB loan to support Indonesia’s energy sector

The Asian Development Bank (ADB) has approved a $500 million loan to support Indonesia’s energy sector reforms to boost fiscal sustainability and governance, expand private sector investments in clean and renewable energy, and promote green recovery from the coronavirus disease (COVID-19) pand...

Business

ADB partners with global insurers to mobilise $1b in lending capacity to FIs

The Asian Development Bank (ADB) has signed an agreement with five leading global insurers which will mobilize up to $1 billion of cofinancing capacity to support lending to financial institutions in Asia and the Pacific.The Master Framework Program for Financial Institutions will allow ADB to incre...

Business

ADB provides $41.4 mln additional grant for Rohingyas in Cox’s Bazar

The Asian Development Bank (ADB) and the Government of Bangladesh have signed an agreement for $41.4 million in grant on Wednesday to help improve infrastructure and manage the basic needs of displaced persons from Myanmar sheltered in Cox’s Bazar in Bangladesh.The additional assistance forms ...

Business

ADB appoints Warren Evans as Special Senior Advisor for Climate Change

The Asian Development Bank (ADB) on Monday announced the appointment of Warren Evans as Special Senior Advisor (Climate Change), Office of the President.Mr. Evans will function as a climate envoy and provide broad oversight and guidance for ADB’s climate operations, including optimizing climat...

Business

ADB inks $150mn deal with Axis Bank to boost supply chains in India

The Asian Development Bank (ADB) has signed a deal with Axis Bank Limited (Axis Bank), worth up to $150 million, to make it easier for small and medium-size enterprises (SMEs) in India to participate in trade through environmental and socially sustainable supply chains.The deal will assist Axis Bank...

Business

ADB okays $150m loan for small enterprises in Bangladesh

The Asian Development Bank (ADB) has approved a $150 million loan to Bangladesh to provide financing for cottage, micro, and small-sized enterprises (CMSEs) operated by youth, returning migrant workers, and rural entrepreneurs, particularly women, who have been hit hard by the coronavirus disease (C...