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5/15/2024 Assistant Secretary for International Trade and Development Alexia Latortue on the Asian Development Bank Annual M… Assistant Secretary for International Trade and Development Alexia Latortue on the Asian Development Bank Annual Meetings and Asian Development Fund Replenishment May 15, 2024 WASHINGTON - The United States applauds the productive Annual Meetings of the Asian Development Bank (ADB) and welcomes the successful replenishment of the Asian Development Fund (ADF-14) and the Technical Assistance Special Fund (TASF-8). The ADF supports the poorest and most vulnerable countries in Asia and the Pacific—including small island developing states in the Pacific—as well as the people of Afghanistan and Myanmar. With a pledge of $174.4 million, subject to Congressional authorization and appropriation, the United States is proud to be the third largest donor to ADF-14 and commends all donors and ADB Management for their strong support toward this historic $5 billion replenishment. As countries grapple with the accelerating impacts of climate change, high debt burdens, and geopolitical turmoil in the region and globally, ADF-14 will provide the critical support necessary to maintain hard-won development gains and continue to accelerate economic development. Resources from ADF and complementary technical assistance from TASF will build debt management capacity and deliver transformative and high-quality projects with strong monitoring, safeguards, and value for money procurement, supporting long-term, inclusive, sustainable growth in the region. ADB Governors also reflected on progress made on ADBʼs evolution journey, including financial reform measures taken that will unlock $100 billion in new financing headroom over the next 10 years – a 40 percent increase – and the design of new innovative instruments. Moving forward, a key priority will be stepping up private sector development and private capital mobilization in support of the regionʼs development aspirations. ### https://home.treasury.gov/news/press-releases/jy2341 1/1
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