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The Asian Development Bank estimates donor countries will probably need to provide as much as $13 billion from 2013 to 2016 to finance loans and grants to projects in poor countries.
Negotiations with donors for about $12 billion to $13 billion of funds is ongoing and may last until May this year, Kazu Sakai, director general of the strategy and policy department, said in an e-mailed response to questions late yesterday. The last replenishment of the fund was $11.3 billion, according to the 2008 Asian Development Fund X Donor’s report.
Asian nations are expected to give more to the fund as a sovereign-debt crisis restricts European nations’ ability to contribute, Sakai said. At stake are projects in some of Asia’s poorest countries, including Vietnam, Laos and Mongolia.
“The difficult fiscal situation of a number of European countries may indeed have an impact on the contributions of some of these donors,” Sakai said. “In view of the strong economic performance of Asian countries, there is indeed an expectation that these countries will make a stronger contribution to the ADF this time as compared to earlier replenishments.”
Source: Bloomberg
