The Asian Development Bank headquarters. Photo by: ADB

MANILA — The Asian Development Bank’s board of directors has approved a set of new financing facilities and modalities as part of ongoing bank efforts to “build a stronger, better, and faster ADB,” said bank President Takehiko Nakao.

Each of the new funding modalities are meant to speed up project preparation and implementation, a change many of the bank’s developing member countries have been pushing for for years.

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About the author

  • Ravelo jennylei

    Jenny Lei Ravelo

    Jenny Lei Ravelo is a Devex Senior Reporter based in Manila. She covers global health, with a particular focus on the World Health Organization, and other development and humanitarian aid trends in Asia Pacific. Prior to Devex, she wrote for ABS-CBN, one of the largest broadcasting networks in the Philippines, and was a copy editor for various international scientific journals. She received her journalism degree from the University of Santo Tomas.