Luxembourg ups donation to ADB facility

Luxembourg’s contribution to the Financial Sector Development Partnership Fund, which the Asian Development Bank manages, has grown to USD2.28 million following its latest grant of USD292,500. “The additional assistance will be most helpful in further strengthening financial systems in the region,” Werner Liepach, Principal Director of ADB’s Office of Cofinancing Operations, averred. The facility supports technical assistance programs and other activities to shore up the financial sector and the investment climate in Asia and the Pacific. The aid from Luxembourg, however, will be used primarily to finance related efforts in Laos, Vietnam, and Mongolia, and the Greater Mekong Subregion on the whole. (Press release: Luxembourg Contributes to Financial Sector Development Partnership Fund/Asian Development Bank)

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