ADB Needs to Raise Capital

The Asian Development Bank immediately requires a capital increase to meet escalating loan demands amid the current global financial crisis, ADB President Haruhiko Kuroda told Germany’s Handlesblatt daily. “We have only just started the discussion about the capital increase, which is needed by 2010 at the very latest. Just to say this much – no member state has made a commitment so far,” said Kuroda. “If we’re supposed to finance significantly more now, to be able to build necessary infrastructure projects in Asia,” he added, “we urgently need a capital increase through our 67 member states.” (“ADB seeks capital increase from member states-report” - Thomson Reuters, Oct. 17, 2008)

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