Luxembourg Supports ADB Fund Targeting Financial Sector Development in Asia

MANILA, PHILIPPINES - The Government of Luxembourg has committed a further €1.5
million ($1.97 million) to an Asian Development Bank (ADB)-administered fund set
up to strengthen financial systems in developing countries in Asia and the
Pacific to aid inclusive growth.
The latest contribution to the Financial Sector Development Partnership Fund
raises Luxembourg's total investments in the facility to $5.81 million
equivalent.
"With this additional assistance, the Government of Luxembourg expresses support
for ADB's plan to expand the fund into a multi-donor facility which will aid our
long-term Strategy 2020 goals of inclusive and environmentally sustainable
growth, and regional integration," said Tadashi Kondo, Head of Office of
Cofinancing Operations.

The fund was established in 2006 with an initial contribution of $1.5 million
from Luxembourg, and is designed to build up and improve national and regional
financial systems in Asia and the Pacific. It supports technical assistance
operations, components of investment projects, and stand-alone grant-financed
activities in the financial sector. ADB's developing member countries are
eligible for assistance.

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