Australia Makes Second Contribution To ADB Institute

Australia Makes Second Contribution To ADB Institute

Manila, Philippines, 16 June 2011 – The Government of Australia, through AusAID, is extending another A$500,000 to the Asian Development Bank Institute (ADBI) Special Fund after making an initial contribution in June last year.

It has now committed A$1 million to the fund and is the first, and only, ADB member country to make a voluntary contribution after Japan.

In September 2010, President Kuroda appointed Australian Stephen Howes to the ADB Institute Advisory Council. This continues Australia’s strong relationship between ADBI and Australia’s universities.

ADBI is a key Asian think tank which engages in research and other knowledge-based work to identify effective development strategies for Asia and the Pacific. It also provides support to member countries in managing development. It was set up in Tokyo in 1996 as a subsidiary of ADB with initial and subsequent financing from the Government of Japan.

The costs for operating ADBI are met from the Special Fund which is administered by ADB in accordance with the ADBI Statute, established in 1996. The Special Fund is able to receive voluntary contributions from any ADB member country, as well as from intergovernmental organizations, non-government organizations and foundations.

ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members -- 48 from the region. In 2010, ADB approvals, including, cofinancing, totaled $17.51 billion. In addition, ADB’s ongoing Trade Finance Program supported $2.8 billion in trade.

ENDS

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