Manila, Oct. 20 -- The Asian Development Bank (ADB) on Monday said it has signeda 3-billion-U.S.-dollar sovereign exposure exchange agreement (EEA) with the World Bank to increase the ADB's lending capacity for its developing members.
The agreement is the ADB's first EEA with the World Bank and its sixth EEA with other multilateral development banks (MDBs) since 2020, bringing the cumulative exchangedamount to 9 billion dollars, the Manila-based bank said in a press release.
"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 syste...