CURRENT AFFAIRS : BANKING & FINANCE
Asian Development Bank Committed $20.5 billion in 2022 for Asia-Pacific
- Multilateral funding agency Asian Development Bank (ADB) committed USD 20.5 billion from its own resources in 2022 to help Asia and the Pacific as it continues its recovery from the COVID-19 pandemic despite fresh economic headwinds and crises.
- The financial and operational results published in ADB’s Annual Report 2022 pointed how the bank combined finance and knowledge, and leveraged partnerships to help the region cope with economic shocks exacerbated by the Russian invasion of Ukraine, a worsening food crisis, and extreme weather events.
