ADB to increase capital to assist developing nations during crisis

The Asian Development Bank (ADB) plans to increase its capital up to threefold from the current 5 trillion yen to step up its assistance to developing countries during the growing global financial crisis, according to what Japan’s Jiji Press and Factiva call informed sources. The fresh capital will come from the ADB’s shareholder nations, the biggest of whom are Japan and the US, with shares of 15.6 per cent each in the bank.

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