G-20 Supports ADB's Capital Hike

G-20 finance ministers endorsed the tripling of the Asian Development Bank's capital to more than USD150 billion,

reported. The G-20 also vowed to examine the sufficiency of the reserves of all multilateral development banks to determine apt funding increases amid the current global economic climate. In addition, the group said it will also earmark USD100 billion in the next three years for developing nations.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.