ADB Establishes Fund for Urban Development

The Asian Development Bank has put up a

to support urban development projects in the region. The Urban Financing Partnership Facility will provide grants and guarantees to projects that aim to install more environment-friendly infrastructure in different cities around the region. Sweden is the first contributor to the fund, donating as much as USD70 million.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.