MANILA, PHILIPPINES (17 August 2017) — The Asian Development Bank (ADB) and the Green Climate Fund (GCF) today signed an Accreditation Master Agreement (AMA) that will allow ADB to access and administer GCF funds and scale up the bank’s climate financing to its developing member countries.
The agreed AMA—a framework agreement detailing the overarching rights and obligations of an accredited entity and GCF—will enable ADB to access a new funding source to further increase its climate mitigation and adaptation efforts in Asia and the Pacific.
PORT VILA, VANUATU (10 August 2017) — The Asian Development Bank’s (ADB) Board of Directors is providing $8.2 million in total additional financing to continue the reconstruction, rehabilitation, and climate-proofing of roads affected by Cyclone Pam.
The additional funding consists of a $4.1 million loan and a $4.1 million grant from ADB’s Ordinary Capital Resources and the Asian Development Fund, respectively. The Government of Vanuatu is also contributing $1.2 million in the project.
MANILA, PHILIPPINES (14 July 2017) — Unabated climate change would bring devastating consequences to countries in Asia and the Pacific, which could severely affect their future growth, reverse current development gains, and degrade quality of life, according to a report produced by the Asian Development Bank (ADB) and the Potsdam Institute for Climate Impact Research (PIK).
COLOMBO, SRI LANKA (9 June 2017) — The Asian Development Bank (ADB) approved a $2 million grant to finance relief efforts in the country following the recent floods and landslides that claimed the lives of over 200 people and damaged the homes and livelihoods of hundreds of thousands more.
“Considering the scope of the damage in Sri Lanka and the government’s constrained resources, it is critical that we assist the people of Sri Lanka in this time of urgent need,” said Sri Widowati, ADB Country Director in Sri Lanka.