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Asian Development Bank’s Response to Crisis

MDB Meeting on Debt Issues Washington, 8-9 July 2009. Asian Development Bank’s Response to Crisis. Tatsuya Kanai Senior Advisor, Strategy and Policy Department Asian Development Bank. ADB’s Response to Crisis. OCR Response Creation of Countercyclical Support Facility ADF Response

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Asian Development Bank’s Response to Crisis

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  1. MDB Meeting on Debt IssuesWashington, 8-9 July 2009 Asian Development Bank’s Response to Crisis Tatsuya Kanai Senior Advisor, Strategy and Policy Department Asian Development Bank

  2. ADB’s Response to Crisis • OCR Response • Creation of Countercyclical Support Facility • ADF Response • Technical Assistance Response • General Capital Increase

  3. Ordinary Capital Resources Response (US$ Million) Increase of $10,201 (38.2%)

  4. Creation of Countercyclical Support Facility Facility Amount $3 billion for 2009-2010 Ceiling Up to $500 million per country Interest ADB’s financing cost + 2% Term 5 years maturity including 3 years grace period Other Features IMF Program not necessary Quick-disbursing

  5. Asian Development Fund Response (i) Up to 100% front loading of 2009-10 allocation Use of 2009-10 allocation (ii) $400 million additional distribution to ADF-only countries Non-Pacific countries 30.6% Increase of 2009-10 allocation Pacific countries 20.1%

  6. Technical Assistance Response Newly planned for crisis response 28 TAs $17.9 M Crisis Response90 TAs $93.65 million Existing TAs Utilized 62 TAs $75.75M ADB’s annual TAs (2009): $302 million

  7. General Capital Increase (GCI) V • AsDB’s capital base • Carefully planned US$55 billion US$165 billion 200% increase • Annual lending level

  8. Thank you For More Information Contact: Tatsuya Kanai tkanai@adb.org Website: www.adb.org

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