India, Oct. 22 -- The Asian Development Bank (ADB) has signed a $3 billion sovereign exposure exchange agreement (EEA) with the World Bank to increase ADB's lending capacity for its developing member countries.
The agreement is ADB's first EEA with the World Bank and its sixth EEA with other multilateral development banks (MDBs) since 2020, bringing the cumulative exchanged amount to $9 billion.
"In an era of overlapping challenges, strategic collaboration among MDBs has never been more critical," said ADB Vice-President for Finance and Risk Management Roberta Casali. "Exposure exchanges can be transformative because they will allow us to work together systemically, reduce concentration risk, and expand our reach precisely when our member...