Georgia received a $300 million loan from ADB for easing chronic traffic congestion. ADB has earmarked $1.1 billion between now and 2020 under a multitranche financing facility . Tbilisi and secondary cities make up the backbone of Georgian economy. This has led to increasing traffic jams and road accidents, pollution, poor infrastructure and inefficient public [...]

The IMF and the World Bank decided to support June 29 the final stage of debt relief for Liberia that in total amounts to $4.6 billion in nominal terms. They also decided June 30 and July 1, respectively, to support debt relief worth $12.3 billion for the Democratic Republic of the Congo. Debt relief reduces [...]

A reform in the global reserve system is critical to avoid a repeat of the recent global economic crisis and Asia’s fast recovering countries need to cooperate to ensure a smooth transition to a multi-currency alternative, says a new report from the Asian Development Bank (ADB) and Columbia University’s Earth Institute. The report, The Future [...]