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KfW, ADB Sign $2 Billion Cofinancing Partnership

July 4, 2014



German development bank KfW will co finance up to $2 billion over three years with Asian Development Bank (ADB) to promote development in the Asia and Pacific region.

The KfW cofinancing will focus on energy, urban infrastructure, climate change, small and medium enterprise financing, vocational training, and regional integration.

According to ADB statement received here, Germany is already the fourth largest bilateral co-financier of ADB projects after Japan, France, and Republic of Korea.

As of the end of 2013, it had financed more than $700 million for 11 ADB: assisted investment projects in Bangladesh, India, Mongolia, Pakistan, and Viet Nam.

KfW carries out financial cooperation as one of its most important instruments for development cooperation.

It works to reduce poverty, ensure that globalization affords opportunities for everyone, protect the climate, conserve natural resources, and safeguard peace.


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Source: Frontier Star (Pakistan)


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