Luxembourg Boosts ADB Fund

Luxembourg contributed an additional USD1.6 million to the Financial Sector Development Partnership Fund, which is administered by the Asian Development Bank. The newest donation brings the country’s total contribution to the fund to USD3.85 billion. The money will be spent on new capacity-building and advisory initiatives in the Asian financial sectors and on efforts to boost ADB’s plans for expanding the fund into a multidonor facility.

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  • 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.