ADB approves reforms to speed loan delivery
Manila, Philippines: The Asian Development Bank (ADB) has approved a
package of reforms to improve and speed delivery of assistance to member
countries and enhance operational efficiency, contributing to a core
component of the Midterm Review (MTR) of Strategy 2020.
ADB President Takehiko Nakao said, "The reforms approved by the Board
of Directors demonstrate ADB's commitment to be stronger, better and
faster. The reforms will help reduce the time and resources to prepare
and administer loans and technical assistance (TA). The overall gains in
savings of procedural and staff time from these reforms will be
With the enhanced operational efficiency, the ADB will be better
positioned to capitalize on the expected increase in ADB's lending
following the combination of the Asian Development Fund operations with
the ordinary capital resources balance sheet in 2017. The merger will
boost ADB's total annual lending and grant approvals to $20 billion -
50% more than the current level.
The new measures will simplify certain procurement processes by
reducing red tape and delegating authority.