What to know about ADB's new financing facilities

Devex , Jul 12, 2018
by Jenny Lei Ravelo

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.

The Project Readiness Financing Facility is designed to support project preparation and design activities. This includes any infrastructure project, such as road or water supply projects, that requires detailed engineering designs prior to the construction bidding process.

To continue reading, click here