Sweden provides SEK 258 million to Asian Development Fund
Published
The Government has decided to provide a maximum of SEK 258 million (approximately USD 25.06 million) to the Asian Development Fund (ADF). These new funds will support long-term economic development and poverty reduction in the poorest and most vulnerable developing countries in Asia and the Pacific region.
“This year, the Government is increasing its contribution to the ADF and providing SEK 258 million. It is thus continuing to strengthen multilateral development banks, which can mobilise and combine private and public resources to combat poverty. The ADF plays a key role in supporting particularly vulnerable countries in areas such as climate, regional cooperation and integration, gender equality, women’s economic empowerment, private sector development and migration. It also provides urgent support to developing countries in crises,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.
This support will, among other things, contribute to investments in regional cooperation and integration, climate measures focusing on the needs in countries affected by climate change, infrastructure, private sector development, sustainability, education, gender equality and governance.
The ADF’s support is primarily intended for countries with low credit ratings or limited repayment capacity. Its contributions can be a way for these countries to reduce their financial burden. The ADF has proved effective in responding to unexpected crises, such as natural disasters, pandemics and economic shocks, and it has mechanisms to swiftly channel resources to emergency situations.
Asian Development Fund (ADF)
The ADF is a fund within the Asian Development Bank (ADB) that provides grants and concessional loans with low interest rates and long repayment periods to the poorest and most vulnerable developing countries in Asia and the Pacific region. Resources provided to the ADF are used to stimulate investments in projects that otherwise could not be implemented. In addition to financing, it offers technical support and advice for capacity development. Its activities support the poorest countries’ development, recovery and debt sustainability, and contribute to effective climate action and green transition.
Through co-financing and resource mobilisation by other development partners, commercial actors or governments, the ADF creates leverage and contributes to systemic changes and structural reforms in ADB member countries. It also finances projects that improve cross-border infrastructure, trade and cooperation between countries and strengthen economic integration in the region, which promotes long-term stability and growth.
Press contact
Press Secretary to Minister for International Development Cooperation and Foreign Trade Benjamin Dousa
Phone (switchboard) +46 8 405 10 00
Mobile +46 76 133 67 90
email to Linn Laurin
X