Azerbaijan becomes new donor of ADB

  • 10:21 17 September 2020

Azerbaijan becomes new donor of ADB

Donors have agreed to a replenishment in excess of $4 billion for the Asian Development Bank’s (ADB) Asian Development Fund (ADF) 13 and Technical Assistance Special Fund (TASF) 7, for the 4-year period from 2021 to 2024, ONA reports.

The total size of the replenishment represents a 7% increase in comparison to the previous replenishment, which covered the 2017–2020 period. Total resources are allocated between ADF 13 and TASF 7: about $3.5 billion and about $0.5 billion, respectively.

Of the total replenishment size, more than $2.3 billion, or 58%, will be funded by contributions from 30 donors including 2 new donors: Azerbaijan and the Philippines. The remaining $1.7 billion, or 42%, will be funded by internal resources, including net income transfers from ADB’s ordinary capital resources and income from ADF’s liquidity investment. The total replenishment size is expected to increase further as three more donors confirm their pledges.

ADF is the largest special fund of ADB and finances grant operations in its poorest and most vulnerable members. The fund is replenished every 4 years.