ADB Announces Record $1.42 Billion Allocation from Income Resources

The Asian Development Bank (ADB) has achieved a milestone by allocating a record $1.42 billion in net income from ordinary capital resources for the year 2023. This allocation, which is the highest in the history of ADB, has been approved by the Board of Governors following the endorsement of the bank's financial statements. The significant net income will be distributed to various funds, with $1.005 billion going to ADB’s ordinary reserve, $292.5 million to the Asian Development Fund (ADF), $110 million to the Technical Assistance Special Fund (TASF) 8, and $15 million to the Asia-Pacific Disaster Response Fund. The ADF, in particular, is designed to provide grants to the poorest and most vulnerable developing member countries.

In addition to the net income distribution, donors and ADB have agreed to a substantial $5 billion replenishment for the ADF and TASF 8. This agreement represents the 13th replenishment since the ADF was established and will facilitate the provision of the largest-ever volume of ADF grants. The ADB continues to uphold its commitment to promoting a prosperous, inclusive, resilient, and sustainable Asia-Pacific region while striving to eradicate extreme poverty.