ADB 'to remain relevant' for project co-financing

Multilateral lender seeks ways to leverage capabilities as more challengers emerge

The Asian Development Bank will work with the China Development Bank and Export-Import Bank of China to co-finance projects outside of China, ADB Vice-President Stephen Groff said.

This is part of the Manila-based multilateral lender's strategy to enhance its financial capacity to remain relevant in a region where emerging institutions such as the CDB and the new Asian Infrastructure Investment Bank dwarf its capacity.