<div style="text-align: justify; "><span style="font-size: 1rem;"><b>The Board of Governors of the Asian Development Bank (ADB) on Sunday approved the bank’s 2023 financial statements and a $1.42 billion net income allocation from its ordinary capital resources, the highest in ADB’s history.</b></span><br></div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The 2023 net income will be allocated as follows:</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">$1.005 billion to ADB’s ordinary reserve to support the bank’s capital growth and provide an earnings base to generate income;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">$292.5 million to the Asian Development Fund, which provides grants to ADB’s poorest and most vulnerable developing member countries.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">$110 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;&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">$15 million to the Asian Pacific Disaster Response Fund, which provides immediate post-disaster grants to developing member countries for restoring lifesaving services.&nbsp; &nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Allocable net income is defined as net income after appropriation of guarantee fees to the special reserve and certain adjustments reported in the cumulative revaluation adjustments account.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">On May 3, donors and the Asian Development Bank (ADB) agreed to a replenishment of $5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8.&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The commitment was made during ADB’s 57th Annual Meeting.&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The ADF is ADB’s largest source of grants for operations in its poorest and most vulnerable developing member countries and is replenished every 4 years.&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">ADF 14, marking the 13th replenishment since the fund’s establishment, will support grant operations during 2025Â­Â­Â­-2028.&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The ADF 14 replenishment is about 22% higher than the $4.1 billion available in ADF 13, and will provide eligible ADB members with the largest-ever volume of ADF grants.&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">TASF 8 will provide grants that help prepare projects, build capacity, and provide technical or policy advice.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Established in 1966, it is owned by 68 members-49 from the region. According to UNB reports&nbsp;</div><div style="text-align: justify;"><br></div><div style="text-align: justify; ">bnbd/fas</div>