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Kazakhstan may become an ADB donor: Vice Minister of Finance Ruslan Dalenov

04 november 2011, 14:26
0
dayindia.com.au
dayindia.com.au
Kazakhstan may become a donor of the Asian Development Bank, Kazakhstan’s Vice Minister of Finance Ruslan Dalenov wrote in his Twitter.

According to him, “Kazakhstan may become a donor of the ADB, while retaining the current status of loans recipient. A possible decision is being thrashed out”.

The Vice Minister elaborated that Kazakhstan has received loans totally worth $1.8 billion from the ADB. According to the Bank’s website, the country has been a member of the Bank since 1994.

The Asian Development Bank aims for an Asia and Pacific free from poverty. Approximately 1.8 billion people in the region are poor and unable to access essential goods, services, assets and opportunities to which every human is entitled.

Established in 1966, the Bank is a major source of development financing for the Asia and Pacific region. With more than $17.5 billion in approved financing, and 2,800 employees from 59 countries, ADB - in partnership with member governments, independent specialists and other financial institutions - is focused on delivering projects that create economic and development impact.

From 31 members at its establishment in 1966, ADB has grown to encompass 67 members - of which 48 are from within Asia and the Pacific and 19 outside.

ADB raises funds through bond issues on the world's capital markets. It also relies on its members' contributions, retained earnings from its lending operations, and the repayment of loans.

In 2010, ADB's total assistance totaled $17.51 billion.

The Bank’s headquarters is in Manila, Philippines. It has offices in 26 countries across the Asia and Pacific region, as well as representative offices in Washington, DC, Frankfurt, Tokyo and Sydney.

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