Donors and the Asian Development Bank (ADB) recently announced a substantial replenishment of USD 5 billion for ADB’s Asian Development Fund (ADF) 14 and Technical Assistance Special Fund (TASF) 8. This commitment, made during ADB’s 57th Annual Meeting in Tbilisi, signifies a crucial boost for ADB’s operations in its poorest and most vulnerable developing member countries, including Sri Lanka. ADF 14, spanning 2025–2028, is the 13th replenishment of ADB’s largest grants source and will provide unprecedented volumes of grants to eligible ADB members, marking a 22% increase from the previous replenishment.
ADB President Masatsugu Asakawa emphasized the significance of grants in addressing urgent development challenges, particularly for the most vulnerable members grappling with development setbacks and the climate crisis. ADF 14’s focus extends to small island developing states and fragile situations, prioritizing climate change adaptation, disaster risk reduction, regional cooperation, gender action, and crisis response capabilities, reflecting ADB’s commitment to holistic development solutions.
The replenishment, largely funded by donors including new contributors Armenia and Georgia, will see a substantial increase in ADB’s net income transfers to ADF, enabling a boost in concessional loans alongside grants. This strategic approach underscores ADB’s aim to provide comprehensive support, with over $8 in grants and concessional loans for every $1 in donor contributions, demonstrating a robust partnership to address pressing development needs and promote sustainable development across the region.