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    G-20 Supports ADB's Capital Hike

    By Ma. Rizza Leonzon // 16 March 2009

    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.

    • Banking & Finance
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    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Ma. Rizza Leonzon

      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.

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