Governors Approve Allocation of $1.1 Billion in ADB Allocable Net Income for 2022 – EQ Mag

INCHEON, REPUBLIC OF KOREA : The Board of Governors of the Asian Development Bank (ADB) today approved the bank’s 2022 financial statements and a $1.1 billion net income allocation from its ordinary capital resources.

The allocable net income will be allocated as follows: $716.5 million to ADB’s ordinary reserve to support the bank’s capital growth and provide an earnings base to generate income; $292.4 million to the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries; and $90 million to the Technical Assistance Special Fund, which provides technical assistance grants to borrowing members to help prepare projects and undertake technical or policy studies.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Source: adb