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ADB to double capital

By Wichit Chaitrong
The Nation

Asian Development Bank, lender to Asian countries, said it need to increase its capital to US$100 billion from current US$50 billion due to current need to more financing to Asian countries.

Jean Pierre Verbiest, country director of ADB in Thailand, said the bank would soon need to double its capital as the need to finance countries in Asia which have been impacted from current global crisis has significantly increased.

There is necessity to lend more in the region particular in investment projects, he said.

Most countries in Asia have apparently speed up government spending in a bid to bolster their economies.

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ADB to double capital

Asian Development Bank, lender to Asian countries, said it need to increase its capital to US$100 billion from current US$50 billion due to current need to more financing to Asian countries.

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