m3n4.net September 21, 2018

ADB may grow bank's portfolio in Georgia

06 May 2018, 06:41 | Tara Lloyd

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Takehiko Nakao President of Asian Development Bank Asia's premier lending institution gestures during a news conference at the ongoing 51st ADB Annual Governor's Meeting Thursday

The Asian region includes some of the fastest-growing (driving) economies.

This follows a meeting Finance and Media Minister Mangala Samaraweera, had with In-Chang Song, an Executive Director of the Board of ADB at the ADB HQ on Friday, while attending the 51st Annual meeting of the ADB in Manila.

As of today, the amount of funding allocated by ADB to Georgia is estimated at $2.4 billion.

Last year, the ADB committed to providing at least US$20 billion (K27.02 trillion) in loans, grants and investments.

"Including official and commercial co-financing and technical assistance, ADB's total commitments past year were $32 billion, a 26 per cent increase from 2016".

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"We are in a good position to achieve our target of doubling annual climate finance to US$6 billion (FJ$12 bn) by 2020".

He thanked the bank for being the third largest source of development assistance to the Philippines as of December 2017.

"We need further efforts to accelerate disbursements and increase cofinancing".

Responding to a question, Kim, who oversees ADB operations and support for regional cooperation in Bangladesh, Bhutan, India, the Maldives, Nepal, and Sri Lanka, said, "Bangladesh is doing very well".

ADB is using satellite data and remote sensing to improve irrigation in Indonesia and Pakistan.

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Jilani said numerous development member countries had continued to face challenges caused by entrenched poverty and vulnerability, global economic uncertainty, climate change and environment degradation, urbanization and aging, therefore, it was imperative for ADB to build on its strength to support infrastructure financing and regional integration.

ADB also issued new thematic bonds such as gender bonds and health bonds.

Shayne Heffernan Funds Manager at HEFFX holds a Ph.D.in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b.

"Developing Asia grew by 6.1 per cent in 2017, and we expect growth will be 6 per cent in 2018". Duterte explained that the city of Marawi became the center of the unrest because it had the highest rates of poverty and low scores on the human development index, which a flourishing economy can change for the better. The recent rebound in oil prices has helped relieve fiscal pressures in oil-producing economies in Central Asia.

This is to support inclusive and sustainable growth momentum, the regional development bank said.

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Nakao acknowledged that some workers may have been sidelined in an open trade system. While agriculture and industrial age will continue to exist, and we should not ignore that the digital age is going to shape up our future.

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