UK Government Approves £120 Million Contribution to Asian Development Bank Fund

In a move to bolster international development, the UK Government has sanctioned a significant financial contribution to the Asian Development Bank (ADB). This decision, formalized in the Asian Development Bank (Thirteenth Replenishment of the Asian Development Fund) Order 2025, sees the UK commit up to £120 million to support the ADB's Asian Development Fund (ADF).

What is the Asian Development Fund?

The ADF is a pivotal financial resource managed by the ADB, dedicated to reducing poverty in Asia and the Pacific. Established in 1973, the Fund provides crucial financial assistance to its developing member countries, focusing on poverty reduction, infrastructure development, and sustainable economic growth.

Details of the Contribution

The Secretary of State, empowered by the International Development Act 2002, has approved this contribution following the necessary parliamentary procedures. The payment aligns with Resolution No. 427, a decision by the ADB's Board of Governors in October 2024, which mandated the Fund's thirteenth replenishment.

Additionally, the Order allows for the redemption of non-interest-bearing and non-negotiable notes. These financial tools, issued by the Secretary of State, are part of the arrangements between the UK Government and the ADB.

Why This Matters

This contribution underscores the UK's commitment to international development and multilateral cooperation. By supporting the ADF, the UK aims to address key challenges in the Asia-Pacific region, fostering economic stability and development.

Impact Assessment

The Order notes that no significant impact on the private, public, or voluntary sectors in the UK is anticipated from this contribution, thus an impact assessment was deemed unnecessary.

This strategic investment in the ADF highlights the UK’s ongoing efforts to play a proactive role in global development, aligning with international goals for sustainable development and poverty alleviation.