TBILISI [Georgia], The Board of Governors of the Asian Development Bank (ADB) today approved the Bank's 2023 financial statements and an income allocation of US$1.42 billion from its common capital resources, the highest in ADB's history. The 2023 allocable net income will be USD 1.005 billion allocated to ADB's General Reserve to support the Bank's capital growth and provide an earning base to generate income, USD 292.5 million to the Asian Development Fund, Which provides grants of USD 110 million to ADB's poorest and most vulnerable developing member countries. The Technical Assistance Special Fund, which provides technical assistance grants to help borrowing members prepare projects to undertake technical or policy studies, provides US$15 million to the Asian Pacific Disaster Response Fund, which provides assistance to developing members. Provides immediate post-disaster grants to countries; Life Saving Services Allocable Net Income is defined as the net income after the appropriation of guarantee charges to special reserves and certain adjustments reported in the cumulative revaluation adjustment account.
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