1 week ADB’s net allocable income hits $1 B MB |Biz
By Chino S. Leyco The Asian Development Bank (ADB) approved a resolution allocating its largest net allocable income in history for this year as member countries require additional support to confront the coronavirus pandemic. In a statement, the Manila-based financial institution said yesterday that the bank raised its net allocable income for 2020 by 27 percent to $1.069 billion from $841.4 million in the previous year. According to ADB, the higher allocation was largely owing to an increase in income from lending operations and liquidity investments, as well as a drop in non-sovereign loan loss provisions. Of the total allocable ... more