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1
|
ADB. 2024. Strategy 2030 Midterm Review: An Evolution Approach for the Asian Development Bank.
|
2
|
The figures are for ordinary capital resources (OCR) and Special Funds. Special Funds include the Asian Development Fund (ADF), Technical Assistance Special Fund
(TASF), Japan Special Fund (JSF), Regional Cooperation and Integration Fund (RCIF), Asia Pacific Disaster Response Fund (APDRF), Climate Change Fund (CCF) and Financial Sector Development Partnership Special Fund (FSDPSF).
|
3
|
ADB. 2025. Board of Governor’s Resolution No. 434 – Allocation of Net Income.
|
4
|
Table A of ADB. 2024. Board of Governors’ Resolution No. 427 – Thirteenth Replenishment of the Asian Development Fund and Eighth Regularized
Replenishment of the Technical Assistance Special Fund.
|
1
|
ADB. 1966. Agreement Establishing the Asian Development Bank.
|
2
|
Following the provisions of Board of Governor Resolution No. 431, one nonregional member became a regional member effective 30 April 2025.
|
3
|
The figures are for ordinary capital resources (OCR) and Special Funds. Special Funds include the Asian Development Fund (ADF), Technical Assistance Special Fund (TASF), Japan
Special Fund (JSF), Regional Cooperation and Integration Fund (RCIF), Asia Pacific Disaster Response Fund (APDRF), Climate Change Fund (CCF) and Financial Sector Development Partnership Special Fund (FSDPSF).
|
4
|
ADB. 2025. Capital Utilization Plan. https://www.adb.org/documents/capital-utilization-plan
|
5
|
ADB’s Charter stipulates that the Board of Governors shall determine the allocation of net income annually.
|
Item
|
2025
|
2024
|
Change
|
|||||||||
Revenue from loans—operationsa
|
1,784
|
2,051
|
(267
|
)
|
||||||||
Sovereign regular
|
1,496
|
1,743
|
(247
|
)
|
||||||||
Sovereign concessional
|
179
|
183
|
(4
|
)
|
||||||||
Nonsovereign
|
109
|
125
|
(16
|
)
|
||||||||
Revenue from investments for liquidity purpose
|
614
|
645
|
(31
|
)
|
||||||||
Interest
|
616
|
653
|
(37
|
)
|
||||||||
Realized losses on sale of investments
|
(2
|
)
|
(8
|
)
|
6
|
|||||||
Revenue from equity investments—operations
|
63
|
43
|
20
|
|||||||||
Net realized gainsb
|
1
|
2
|
(1
|
)
|
||||||||
Dividends and others
|
1
|
1
|
–
|
|||||||||
Realized losses on equity method investmentsc
|
(2
|
)
|
(6
|
)
|
4
|
|||||||
Unrealized gains on equity method investmentsc
|
63
|
46
|
17
|
|||||||||
Revenue from guarantees—operations
|
8
|
6
|
2
|
|||||||||
Revenue from other debt securities—operations
|
12
|
11
|
1
|
|||||||||
Revenue from other sources
|
27
|
29
|
(2
|
)
|
||||||||
Borrowings and related expenses
|
(1,856
|
)
|
(2,203
|
)
|
347
|
|||||||
(Provision) Release of provision for credit losses
|
(52
|
)
|
26
|
(78
|
)
|
|||||||
Administrative expenses—OCR
|
(186
|
)
|
(163
|
)
|
(23
|
)
|
||||||
Other expenses
|
(11
|
)
|
(7
|
)
|
(4
|
)
|
||||||
Net unrealized (losses) gains
|
(76
|
)
|
261
|
(337
|
)
|
|||||||
Fair value changes
|
(78
|
)
|
259
|
(337
|
)
|
|||||||
Reclassification of unrealized gains on divested equity investmentsb
|
–
|
(1
|
)
|
1
|
||||||||
Translation adjustments of nonfunctional currencies
|
2
|
3 |
(1 | ) | ||||||||
Net income
|
327
|
699 |
(372 | ) | ||||||||
Appropriation of guarantee fees to special reserve
|
(8
|
)
|
(6 | ) | (2 | ) | ||||||
Net income after appropriation of guarantee fees to special reserve
|
319
|
693
|
(374
|
)
|
||||||||
Adjustments
|
13
|
(307
|
)
|
320
|
||||||||
Net unrealized losses (gains)
|
76
|
(261
|
)
|
337
|
||||||||
Unrealized gains on equity method investmentsc
|
(63 | ) | (46 | ) | (17 | ) | ||||||
Allocable net income (non-GAAP measure)
|
332 |
386 |
(54 | ) |
a
|
Includes interest revenue, commitment charges, amortization of front-end fees and loan origination cost and interest on asset swaps. Excludes funding costs.
|
b
|
Sale of equity investments in 2024 resulted in reclassification of the unrealized gains up to 31 December 2023 of $1 million to realized gains. The net realized gains up to the date of sale in 2025
totaled $1 million ($2 million – 2024).
|
c
|
Pertains to ADB's proportionate share of gains or losses from equity method investments.
|
-
|
Revenue from loans decreased by $267 million compared to the same period in 2024 mainly because of the lower average interest rates (Figure 1) applied to regular OCR loans,
partially offset by increase in average outstanding loans in 2025 (Figure 2),
|
-
|
Revenue from investments for liquidity purpose decreased by $31 million compared to the same period in 2024 mainly because of the $37 million decrease in interest revenue driven
by the lower short-term interest rates on debt-funded liquidity investments compared to the same period in 2024,
|
-
|
Revenue from equity investments, excluding unrealized gains/losses on equity method investments, slightly increased by $3 million mainly due to the lower realized losses on equity
method investments,
|
-
|
Borrowings and related expenses decreased by $347 million compared to the same period in 2024 mainly because of lower level of short-term interest rates (Figure 1) . Consistent
with the market movements, average cost of borrowings under management reporting basis for the three months ended 31 March 2025 decreased to 4.6% from 5.7% of the same period in 2024,
|
-
|
Provision for credit losses amounted to $52 million for the three months ended 31 March 2025. The provision in 2025 was mainly driven by the ongoing macroeconomic uncertainty and
shifts in borrower risk characteristics,
|
-
|
Administrative expenses of OCR increased by $23 million primarily because of higher salaries and benefits expenses, and
|
![]() |
![]() |
6
|
Allocable net income is defined as net income after appropriation of guarantee fees to special reserve and certain adjustments set aside in the cumulative revaluation adjustments account.
|
-
|
$76 million net unrealized losses for the three months ended 31 March 2025 ($261 million net unrealized gains – 2024) was largely due to the fair value losses on borrowing and
derivatives driven mainly by the movement of medium- and long-term interest rates (Table 2).
|
Item
|
2025
|
2024
|
Change
|
|||||||||
Fair value changes from:
|
(78
|
)
|
259
|
(337
|
)
|
|||||||
Borrowings and related derivatives
|
(50
|
)
|
285
|
(335
|
)
|
|||||||
Loans related derivatives
|
(4
|
)
|
(98
|
)
|
94
|
|||||||
Investments related derivatives
|
(8
|
)
|
66
|
(74
|
)
|
|||||||
Equity investments
|
(16
|
)
|
6
|
(22
|
)
|
|||||||
Reclassification of unrealized gains on divested equity investment
|
–
|
(1
|
)
|
1
|
||||||||
Translation adjustments of nonfunctional currencies
|
2
|
3
|
(1
|
)
|
||||||||
Total
|
(76
|
)
|
261
|
(337
|
)
|
|||||||
( ) = negative, – = nil. |
Item
|
31 March 2025
|
31 March 2024
|
31 December 2024
|
Operational Highlights ($ million)
|
|||
Loans, Guarantees, EI, and ODS Committeda
|
2,014
|
2,144
|
22,920
|
Loans, EI, and ODS Disbursements
|
4,588
|
3,281
|
17,911
|
Loans and ODS Principal Repayments and Prepayments
|
3,104
|
2,547
|
12,956
|
Loans, EI, and ODS Outstanding
|
158,648
|
152,901
|
156,112
|
Statutory Reporting Basis
|
|
|
|
Net Income ($ million)
|
327
|
699
|
1,629
|
Return on Earning Assetsb
|
0.6
|
0.9
|
0.8
|
Return on Equityc
|
2.4
|
3.5
|
2.9
|
Return on Loansd
|
4.4
|
5.2
|
4.9
|
Return on Investments for Liquidity Purposee
|
4.3
|
5.1
|
4.8
|
Cost of Borrowingsf
|
4.5
|
5.5
|
5.2
|
Management Reporting Basis (non-GAAP measure)g
|
|||
Allocable Net Incomeh ($ million)
|
332
|
386
|
1,539
|
Return on Earning Assetsb
|
0.6
|
0.8
|
0.7
|
Return on Equityc
|
2.4
|
2.9
|
2.8
|
Return on Loansd
|
4.5
|
5.3
|
5.2
|
Return on Investments for Liquidity Purposee
|
4.3
|
4.8
|
4.8
|
Cost of Borrowingsf
|
4.6
|
5.7
|
5.5
|
Capital Utilization Ratioi
|
71.7
|
71.4
|
71.5
|
a
|
Includes commitments under the private sector programs namely, the Trade and Supply Chain Finance and the Microfinance Program.
|
b
|
Net income (for statutory reporting basis) or allocable net income (for management reporting basis) divided by average earning assets. Earning assets comprise investments for
liquidity purpose, loans outstanding, equity investments, and other debt securities (all after swaps, if applicable).
|
c
|
Net income (for statutory reporting basis) or allocable net income (for management reporting basis) divided by average equity balances.
|
d
|
Interest revenue on loans, commitment fees, other revenue or expenses on loans and related swaps, and gains or losses on related swaps divided by average outstanding loans after
swaps. For the three months ended 31 March 2025, under statutory basis reporting, the return on regular and concessional OCR loans was 4.9% and 2.6%, respectively, while under management basis reporting, the return on regular
and concessional OCR loans was 5.1% and 2.1%, respectively.
|
e
|
Interest revenue and gains or losses on investments and related swaps divided by average balances of investments after swaps.
|
f
|
Financial expenses and gains or losses on borrowings and related swaps divided by average outstanding borrowings after swaps.
|
g
|
Management reporting basis ratios exclude impact of unrealized gains or losses from fair value changes associated with certain financial instruments, unrealized gains or losses on
equity method investments, and nonnegotiable and noninterest-bearing demand obligations on account of subscribed capital.
|
h
|
Allocable net income is defined as net income after appropriation of guarantee fees to special reserve and certain adjustments set aside in the cumulative revaluation adjustments
account.
|
i
|
Capital utilization ratio is the ratio of the total economic capital used to usable equity.
|
1.
|
Loans
|
-
|
Project – Also known as investment lending, it finances expenditures incurred for discrete investment projects and focuses on project implementation. Disbursements in this
modality are linked to expenditures for inputs. Nonsovereign loans fall under this modality.
|
-
|
Policy-based – This modality provides sovereign budget support for structural reforms and development expenditure programs in developing member countries. In certain
circumstances, it may also be used to provide balance of payments or counter-cyclical fiscal support. It is linked to the implementation of policy reforms, disbursed quickly, and targeted to sector-wide and economy-wide impact.
|
-
|
Results-based – It supports government-owned sector programs and disburses ADB funds based on the achievement of program results.
|
Sovereign
|
||||||||||||||||
Regular
|
Concessional
|
NSO
|
Total
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Project Loan
|
73,186
|
21,706
|
6,156
|
101,048
|
||||||||||||
Policy-based Loan
|
38,156
|
11,113
|
–
|
49,269
|
||||||||||||
Results-based Loan
|
6,152
|
952
|
–
|
7,104
|
||||||||||||
Total Outstanding
|
117,494
|
33,771
|
6,156
|
157,421
|
||||||||||||
Accounting adjustmentsa
|
(344
|
)
|
(102
|
)
|
(38
|
)
|
(484
|
)
|
||||||||
117,150
|
33,669
|
6,118
|
156,937
|
|||||||||||||
Allowance for credit losses on loans
|
(95
|
)
|
(170
|
)
|
(328
|
)
|
(594
|
)
|
||||||||
Loans Outstanding
|
117,055
|
33,499
|
5,790
|
156,343
|
||||||||||||
31 December 2024
|
||||||||||||||||
Project Loan
|
72,968
|
21,441
|
5,754
|
100,163
|
||||||||||||
Policy-based Loan
|
36,537
|
11,133
|
–
|
47,670
|
||||||||||||
Results-based Loan
|
5,872
|
866
|
–
|
6,738
|
||||||||||||
Total Outstanding
|
115,377
|
33,439
|
5,754
|
154,570
|
||||||||||||
Accounting adjustmentsa
|
(25
|
)
|
(107
|
)
|
(34
|
)
|
(166
|
)
|
||||||||
115,352
|
33,332
|
5,720
|
154,404
|
|||||||||||||
Allowance for credit losses on loans
|
(91
|
)
|
(163
|
)
|
(286
|
)
|
(540
|
)
|
||||||||
Loans Outstanding
|
115,261
|
33,169
|
5,434
|
153,864
|
||||||||||||
a
|
Includes fair value adjustment on loans, unamortized loan origination cost, and unamortized front-end fee.
|
Item
|
31 March 2025
|
31 December 2024
|
|
Allowance for credit losses on loans
|
594
|
540
|
|
Sovereign regular OCR loans
|
95
|
91
|
|
Sovereign concessional OCR loansa
|
170
|
163
|
|
Nonsovereign loans
|
328
|
286
|
|
Allowance for credit losses on other debt securities
|
13
|
14
|
|
Liability for credit losses on off-balance sheet exposures
|
119
|
121
|
|
Totalb
|
726
|
675
|
a
|
Include allowance for heavily indebted poor countries debt relief ($33 million – 31 March 2025, $33 million – 31 December 2024).
|
b
|
Excludes Recovery Assets from risk transfer arrangements.
|
|
2025 |
2024
|
||||
Numbera
|
Amount
|
Numbera
|
Amount
|
Change
|
||
Sovereign Regular
|
5
|
1,351
|
7
|
1,064
|
287
|
|
Project
|
2
|
303
|
7
|
1,064
|
(761)
|
|
Policy-based
|
2
|
1,000
|
–
|
–
|
1,000
|
|
Results-based
|
1
|
48
|
–
|
–
|
48
|
|
Sovereign Concessional
|
–
|
–
|
6
|
385
|
(385)
|
|
Project
|
–
|
– |
6
|
385
|
(385)
|
|
Policy-based
|
–
|
– |
–
|
–
|
–
|
|
Results-based
|
–
|
– |
–
|
–
|
–
|
|
Nonsovereign—Project
|
4
|
96 |
3
|
84
|
12
|
|
Total
|
9
|
1,447 |
16
|
1,533
|
(86)
|
a
|
Commitments for sovereign loans and nonsovereign project loans are counted based on the number of loans committed.
|
2025
|
2024
|
|||||||||||||||
Disbursements
|
Repaymentsa
|
Disbursements
|
Repaymentsa
|
|||||||||||||
Sovereign Regular
|
3,361
|
2,291
|
2,575
|
1,632
|
||||||||||||
Project
|
843
|
898
|
1,079
|
857
|
||||||||||||
Policy-based
|
2,293
|
1,371
|
1,406
|
753
|
||||||||||||
Results-based
|
225
|
22
|
90
|
22
|
||||||||||||
Sovereign Concessional
|
402
|
405
|
305
|
422
|
||||||||||||
Project
|
308
|
306
|
274
|
318
|
||||||||||||
Policy-based
|
–
|
86
|
–
|
91
|
||||||||||||
Results-based
|
94
|
13
|
31
|
13
|
||||||||||||
Nonsovereignb
|
766
|
377
|
332
|
473
|
||||||||||||
Total
|
4,529
|
3,073
|
3,212
|
2,527
|
a
|
Includes prepayment of $4 million for two nonsovereign loans for the three months ended 31 March 2025 ($52 million for one sovereign regular OCR loans and $96 million for one
nonsovereign loan – 2024). Amounts are based on the United States dollar equivalent as of receipt of payment.
|
b
|
Includes loan disbursements and repayments under the private sector programs.
|
Sovereign
|
||||||||||||||||||||||||
|
Regular
|
Concessional
|
Nonsovereign
|
|||||||||||||||||||||
Product
|
2025 |
2024 | 2025 | 2024 | 2025
|
2024 | ||||||||||||||||||
Flexible loan producta
|
115,086
|
114,212 |
n/a
|
n/a
|
4,596
|
4,172
|
||||||||||||||||||
Local currency loans
|
2,272
|
1,013 |
n/a
|
n/a
|
1,560
|
1,582
|
||||||||||||||||||
Concessional loans
|
n/a
|
n/a
|
33,771
|
33,439
|
n/a
|
n/a
|
||||||||||||||||||
Pool-based single currency loansb
|
136
|
152 |
n/a
|
n/a |
n/a
|
n/a | ||||||||||||||||||
Total Outstanding
|
117,494
|
115,377 |
33,771
|
33,439
|
6,156
|
5,754
|
||||||||||||||||||
Accounting adjustmentsc
|
(344
|
)
|
(25 | ) |
(102
|
)
|
(107
|
)
|
(38
|
)
|
(34
|
)
|
||||||||||||
Allowance for credit losses
|
(95
|
)
|
(91 | ) |
(170
|
)
|
(163
|
)
|
(328
|
)
|
(286
|
)
|
||||||||||||
Loans Outstanding
|
117,055
|
115,261 |
33,499
|
33,169
|
5,790
|
5,434
|
a
|
Includes fixed rate loans amounting to $6,708 million for sovereign regular OCR loans and $549 million for nonsovereign loans as of 31 March 2025 ($7,474 million for
sovereign regular OCR loans and $500 million for nonsovereign loans – 31 December 2024).
|
b
|
PSCLs are legacy loan products and are no longer offered.
|
c
|
Includes fair value adjustment on loans, unamortized loan origination cost, and unamortized front-end fee.
|
7
|
The Euro Interbank Offered Rate (EURIBOR) and New Zealand Dollar (NZD) bank bill rate will continue to be used for Euro and NZD loans, respectively.
|
Item | FLP | CSF | SPBL |
A. Loan Term |
For project and results-based, flexible loan terms of up to 19 years of average loan maturity; For policy-based, loan term of 15 years including a grace
period of up to 3 years
|
Loan term of 7 years, including a grace period of up to 3 years
|
Loan term of 5 to 8 years, including a grace period of up to 3 years
|
B. Cost-Base Rate 1. US dollar 2. Yen 3. Euro 4. New Zealand dollar |
6-month SOFR compounded in arrears
6-month TONA compounded in arrears
6-month EURIBOR
6-month Bank Bill Rate
|
||
C. Lending Spreada | 50 | 75 | 200 |
D. Maturity Premiumb for loans | |||
with average maturity of | |||
1. < 9 years | 0 | ||
2. 9 years up to 13 years | 0 – 40 | ||
3. >13 years up to 16 years | 0 – 50 | ||
4. >16 years up to 19 years | 0 – 75 | ||
E. Surcharge or (Rebate)c | |||
1. US dollar | 37 | 43 | |
2. Yen | (24) | ||
3. Euro | 12 | ||
4. New Zealand dollar | 52 | ||
F. Commitment Chargesd | 15 | 15 | 75 |
a
|
The current FLP and LCL effective contractual spread is 50 basis points for loans negotiated on or after 1 January 2014. The terms of emergency assistance loans are similar
to FLP terms.
|
b
|
For loans which formal negotiations were completed on or after 1 April 2012, a maturity premium is added to the contractual spread and applied for the entire life of the
loan. A limit of 19 years applies to the average loan maturity of FLP loans and LCLs. For all loans to regular OCR-only borrowing countries, approved on or after 1 January 2021, a new pricing structure was implemented to
adjust the pricing framework and introduce diversity in the current flat pricing structure for countries in different stages of development. The new maturity premium is applied for the life of a loan regardless of country
group changes during the tenor of the loan.
|
c
|
To maintain the principle of the cost pass-through pricing policy, ADB passes on its actual funding cost margin to its borrowers through a surcharge or rebate and these are
incorporated into the interest rate for the succeeding interest period. Rebates or surcharges for all FLPs are determined in January and July every year on the basis of the average funding cost margin below or above the
relevant benchmark for the preceding 6 months. The information presented is applicable for 1 January to 30 June 2025.
|
d
|
The commitment charge is levied on undisbursed balances beginning 60 days after signing of the applicable loan agreement. For loans under contingent disaster financing, the
borrower will pay, in lieu of commitment charges, a front-end fee of 25 or 10 basis points of the committed loan amount depending on the contingent disaster financing option.
|
Terms
|
Concessional
Assistance-Only
Countriesa
|
OCR Blend
Countriesb, c
|
SIDS
|
Emergency
Assistance
|
A. Maturity (years)
|
24 – 32
|
25
|
40
|
40
|
B. Grace period (years)
|
8
|
5
|
10
|
10
|
C. Interest rate during the grace period
|
1.0%
|
2.0%
|
1.0%
|
1.0%
|
D. Interest rate during the amortization period
|
1.5%
|
2.0%
|
1.0%
|
1.0%
|
E. Principal repayment
|
||||
1. First 10 years after the grace period
|
Equal
|
Equal
|
2.0%d
|
2.0%d
|
2. Year thereafter
|
Equal
|
Equal
|
4.0%d
|
4.0%d
|
a
|
Countries that are eligible for sovereign concessional OCR loans and/or Asian Development Fund grants.
|
b
|
Countries that are eligible for both sovereign regular and concessional OCR loans.
|
c
|
Applicable for projects with loan negotiations completed on or after 1 January 2013.
|
d
|
Principal repayment will be calculated based on the approved loan amount multiplied by the annual rate of 2.0% for the first 10 years after the grace period and 4.0% thereafter.
|
2.
|
Guarantees
|
2025
|
2024
|
Change
|
||||||||||
Short-term
|
463
|
418
|
45
|
|||||||||
Long-term
|
68
|
153 | (85 | ) | ||||||||
Totala
|
530
|
571 |
(40 | ) | ||||||||
MFP = Microfinance Program, OCR = ordinary capital resources, TSCFP = Trade and Supply Chain Finance Program
Note: Short-term has maturity of less than 365 days. Long-term has maturity of 365 days or more. Numbers may not sum precisely because of rounding.
a Includes $382 million guarantees ($395 million – 2024) and $99 million loans ($75 million – 2024) under TSCFP, and $49
million ($101 million – 2024) guarantees under MFP.
|
3.
|
Investments for Liquidity Purpose
|
4.
|
Borrowings
|
31 March 2025
|
31 December 2024
|
|||||||
Authorized (SDR106,392)
|
||||||||
Subscribed (SDR106,392)
|
$
|
141,038
|
$
|
138,749
|
||||
Less: Callable capital subscribed
|
133,970
|
131,796
|
||||||
Paid-in capital subscribed
|
7,068
|
6,953
|
||||||
Less: Other adjustmentsa
|
24
|
25
|
||||||
7,044
|
6,928
|
|||||||
Add: (1) ADF assets transferb
|
30,748
|
30,748
|
||||||
(2) Other reservesc
|
19,420
|
18,759
|
||||||
Total Equity
|
$
|
57,212
|
$
|
56,435
|
a
|
Comprises discount and nonnegotiable, noninterest-bearing demand obligations on account of subscribed capital. (See OCR-1 of the Financial Statements).
|
b
|
The transfer of ADF assets to OCR on 1 January 2017 was treated as a contribution from ADF which was recognized as a one- time income.
|
c
|
Includes ordinary reserve, special reserve, surplus, cumulative revaluation adjustments, net income after appropriation less net notional amounts required to maintain value of
currency holdings, and accumulated other comprehensive income (loss). (See OCR-1 of the Financial Statements).
|
8
|
ADB. 2025. Board of Governors’ Resolution No. 434 – Allocation of Net Income.
|
For the years ended
|
||||||||
2024
|
2023
|
|||||||
Net Income
|
1,629
|
938
|
||||||
Adjustment to cumulative revaluation adjustments
|
(63
|
)
|
513
|
|||||
Appropriation of guarantee fees to special reserve
|
(27
|
)
|
(28
|
)
|
||||
Allocable net income (non-GAAP measure)
|
1,539
|
1,423
|
||||||
Allocation to ordinary reserve
|
1,016
|
1,005
|
||||||
Allocation to special funds
|
||||||||
Asian Development Fund
|
394
|
293
|
||||||
Technical Assistance Special Fund
|
130
|
110
|
||||||
Asia Pacific Disaster Response Fund
|
–
|
15
|
||||||
Total Allocated Net Income
|
1,539
|
1,423
|
||||||
( ) = negative, – = nil, OCR = ordinary capital resources.
Note: Numbers may not sum precisely because of rounding.
|
9
|
ADB. 2024. Board of Governors’ Resolution No. 427 – Thirteenth Replenishment of the Asian Development Fund and Eighth Regularized Replenishment of the
Technical Assistance Special Fund.
|
10
|
Includes $337 million funds from ADF 12 earmarked for ADF 13.
|
11
|
Includes securities purchased under resale arrangements.
|
12
|
In the event of a nonaccrual in the reference portfolio under the IF-CAP Guarantee Mechanism, the Government of Japan’s payment of its share of risk participation will be channeled through
the JSF IF-CAP Window.
|
Appendix |
23 |
2025
|
2024
|
|||||||||||||||
Item
|
Statutory
Reporting Basis
|
Adjustmentsa
|
Management
Reporting Basis
|
Management
Reporting Basis
|
||||||||||||
Due from banks
|
1,447
|
–
|
1,447
|
2,235
|
||||||||||||
Investments for liquidity purpose
|
58,565
|
–
|
58,565
|
46,695
|
||||||||||||
Securities transferred under repurchase agreements
|
908
|
–
|
908
|
–
|
||||||||||||
Securities purchased under resale arrangements
|
237
|
–
|
237
|
260
|
||||||||||||
Loans outstanding — operations
|
156,343
|
–
|
156,343
|
153,864
|
||||||||||||
Equity investments — operations
|
1,702
|
(346
|
)
|
1,356
|
1,329
|
|||||||||||
Other debt securities — operations
|
603
|
–
|
603
|
621
|
||||||||||||
Derivative Assets
|
||||||||||||||||
Borrowings
|
70,248
|
292
|
70,540
|
62,476
|
||||||||||||
Investments for liquidity purpose
|
28,002
|
(337
|
)
|
27,665
|
25,669
|
|||||||||||
Loans — operations
|
17,170
|
661
|
17,831
|
18,149
|
||||||||||||
Accrued interest receivable
|
2,059
|
–
|
2,059
|
1,697
|
||||||||||||
Other assets
|
1,941
|
11
|
1,952
|
2,010
|
||||||||||||
TOTAL
|
339,225
|
281
|
339,506
|
315,005
|
||||||||||||
Borrowings and accrued interest
|
160,838
|
4,341
|
165,179
|
151,959
|
||||||||||||
Derivative Liabilities
|
||||||||||||||||
Borrowings
|
77,388
|
(4,049
|
)
|
73,339
|
66,906
|
|||||||||||
Investments for liquidity purpose
|
26,141
|
(186
|
)
|
25,955
|
23,058
|
|||||||||||
Loans — operations
|
14,834
|
1,071
|
15,905
|
15,675
|
||||||||||||
Payable under securities repurchase agreements
|
908
|
–
|
908
|
–
|
||||||||||||
Payable for swap related and other collateral
|
739
|
–
|
739
|
857
|
||||||||||||
Accounts payable and other liabilities
|
1,165
|
–
|
1,165
|
977
|
||||||||||||
Total Liabilities
|
282,013
|
1,177
|
283,190
|
259,432
|
||||||||||||
Paid-in capital
|
7,044
|
11
|
7,055
|
6,940
|
||||||||||||
Net notional maintenance of value receivable
|
(1,533
|
)
|
–
|
(1,533
|
)
|
(1,481
|
)
|
|||||||||
Ordinary reserve
|
47,540
|
2
|
47,542
|
47,542
|
||||||||||||
Special reserve
|
566
|
–
|
566
|
558
|
||||||||||||
Surplus
|
1,065
|
–
|
1,065
|
1,065
|
||||||||||||
Cumulative revaluation adjustments account
|
462
|
(462
|
)
|
–
|
–
|
|||||||||||
Unallocated net incomeb
|
||||||||||||||||
For the calendar year 2024
|
1,602
|
(63
|
)
|
1,539
|
1,539
|
|||||||||||
For the three months ended 31 March 2025
|
319
|
13
|
332
|
–
|
||||||||||||
Accumulated other comprehensive loss
|
147
|
(397
|
)
|
(250
|
)
|
(590
|
)
|
|||||||||
Total Equity
|
57,212
|
(896
|
)
|
56,316
|
55,573
|
|||||||||||
TOTAL
|
339,225
|
281
|
339,506
|
315,005
|
a
|
Unrealized gains or losses from fair value adjustments associated with certain financial instruments, share of unrealized gain or loss from equity
method investments, and nonnegotiable and noninterest-bearing demand obligations on account of subscribed capital.
|
b
|
After appropriation of guarantee fees to the Special Reserve.
|
31 March 2025 and 31 December 2024
Expressed in Millions of US Dollars
|
||||||||||||
A S S E T S
|
||||||||||||
31 March
(Unaudited)
|
31 December
(Audited)
|
|||||||||||
DUE FROM BANKS
|
$
|
1,447
|
$
|
2,235
|
||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and O)
|
58,565
|
46,695
|
||||||||||
SECURITIES TRANSFERRED UNDER REPURCHASE AGREEMENT (Notes C, D, and O)
|
908
|
–
|
||||||||||
SECURITIES PURCHASED UNDER RESALE ARRANGEMENTS (Notes C, D, and O)
|
237
|
260
|
||||||||||
LOANS OUTSTANDING — OPERATIONS (Notes E and O)
(Including net unamortized loan origination costs of $254 –
31 March 2025 and $245 – 31 December 2024)
|
||||||||||||
Sovereign
|
||||||||||||
Regular
|
$
|
117,150
|
$
|
115,352
|
||||||||
Concessional
|
33,669
|
33,332
|
||||||||||
150,819
|
148,684
|
|||||||||||
Nonsovereign
|
6,118
|
5,720
|
||||||||||
156,937
|
154,404
|
|||||||||||
Less—allowance for credit losses
|
594
|
156,343
|
540
|
153,864
|
||||||||
EQUITY INVESTMENTS — OPERATIONS (Notes G and O)
|
1,702
|
1,627
|
||||||||||
OTHER DEBT SECURITIES — OPERATIONS (Notes H and O)
(Net of allowance for credit losses of $13 – 31 March 2025
and $14 – 31 December 2024)
|
603
|
621
|
||||||||||
ACCRUED INTEREST RECEIVABLE
|
2,059
|
1,697
|
||||||||||
DERIVATIVE ASSETS (Notes I and O)
|
||||||||||||
Borrowings
|
70,248
|
61,872
|
||||||||||
Investments for liquidity purpose
|
28,002
|
26,062
|
||||||||||
Loans — operations
|
17,170
|
115,420
|
17,671
|
105,605
|
||||||||
OTHER ASSETS
|
||||||||||||
Property, furniture, and equipment (Note J)
|
325
|
309
|
||||||||||
Swap related and other collateral (Notes I and O)
|
739
|
857
|
||||||||||
Net postretirement medical benefit plan asset
|
253 |
253 |
||||||||||
Miscellaneous (Notes C, F, K, and O)
|
624
|
1,941
|
579
|
1,998
|
||||||||
TOTAL
|
$
|
339,225
|
$
|
314,602
|
LIABILITIES AND EQUITY
|
||||||||||||||||||||||||
31 March
(Unaudited)
|
31 December
(Audited)
|
|||||||||||||||||||||||
BORROWINGS (Notes L and O)
|
$
|
160,838
|
$
|
146,517
|
||||||||||||||||||||
DERIVATIVE LIABILITIES (Notes I and O)
|
||||||||||||||||||||||||
Borrowings
|
$
|
77,388
|
$
|
71,703
|
||||||||||||||||||||
Investments for liquidity purpose
|
26,141
|
23,292
|
||||||||||||||||||||||
Loans — operations
|
14,834
|
118,363
|
14,821
|
109,816
|
||||||||||||||||||||
|
||||||||||||||||||||||||
PAYABLE UNDER SECURITIES REPURCHASE AGREEMENTS (Notes C, D, and O)
|
908
|
–
|
||||||||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES | ||||||||||||||||||||||||
Swap related and other collateral (Notes I and O)
|
739
|
857
|
||||||||||||||||||||||
Accrued pension and postretirement medical benefit costs
|
158
|
165
|
||||||||||||||||||||||
Liability for credit losses on off-balance sheet exposures (Notes E, F, and H)
|
119 |
121 |
||||||||||||||||||||||
Miscellaneous (Notes C, F, J, K, and O)
|
888
|
1,904
|
691
|
1,834
|
||||||||||||||||||||
Total Liabilities
|
282,013
|
258,167
|
||||||||||||||||||||||
EQUITY (OCR-4)
|
||||||||||||||||||||||||
Capital Stock (Note M)
|
||||||||||||||||||||||||
Authorized and subscribed (SDR106,392 million)
|
141,038
|
138,749
|
||||||||||||||||||||||
Less—“callable” shares subscribed (SDR101,061 million)
|
133,970
|
131,796
|
||||||||||||||||||||||
“Paid-in” shares subscribed (SDR5,331 million)
|
7,068
|
6,953
|
||||||||||||||||||||||
Less—discount
|
13
|
13
|
||||||||||||||||||||||
7,055
|
6,940
|
|||||||||||||||||||||||
Nonnegotiable, noninterest-bearing demand obligations on account of subscribed capital (Note M)
|
(11
|
)
|
7,044
|
(12
|
)
|
6,928
|
||||||||||||||||||
Net notional amounts required to maintain value of currency holdings
|
(1,533
|
)
|
(1,481
|
)
|
||||||||||||||||||||
Ordinary reserve (Note M)
|
||||||||||||||||||||||||
From ADF assets transfer
|
$ | 30,748 | $ | 30,748 | ||||||||||||||||||||
From retained earnings
|
16,792 | 47,540 | 16,792 |
47,540
|
||||||||||||||||||||
Special reserve
|
566 |
558
|
||||||||||||||||||||||
Surplus
|
1,065 |
1,065
|
||||||||||||||||||||||
Cumulative revaluation adjustments account
|
462 |
462
|
||||||||||||||||||||||
Net income after appropriation to special reserve
|
||||||||||||||||||||||||
For the calendar year 2024
|
1,602 |
1,602
|
||||||||||||||||||||||
For the three months ended 31 March 2025 (OCR-2)
|
319 |
–
|
||||||||||||||||||||||
Accumulated other comprehensive income (loss) (Note M)
|
147
|
50,168 |
(239
|
)
|
49,507
|
|||||||||||||||||||
Total Equity
|
57,212 |
56,435
|
||||||||||||||||||||||
TOTAL
|
$ | 339,225 |
$
|
314,602
|
ASIAN DEVELOPMENT BANK—ORDINARY CAPITAL RESOURCES
For the Three Months Ended 31 March 2025 and 2024
Expressed in Millions of US Dollars
|
||||||||
2025 | 2024 | |||||||
REVENUE (Note N) | ||||||||
Loans — operations (Notes E and I)
|
$
|
1,784
|
$
|
2,051
|
||||
Investments for liquidity purpose (Notes C and I)
|
616
|
653
|
||||||
Equity investments — operations
|
62
|
41
|
||||||
Guarantees — operations
|
8
|
6
|
||||||
Other debt securities — operations
|
12
|
11
|
||||||
Other sources—net
|
27
|
29
|
||||||
Total
|
2,509
|
2,791
|
EXPENSES (Note N) | ||||||||
Borrowings and related expenses (Note I)
|
(1,856
|
)
|
(2,203
|
)
|
||||
Administrative expenses (Note M)
|
(186
|
)
|
(163
|
)
|
||||
(Provision) Release of provision for credit losses—net (Notes E, F, and H)
|
(52 | ) | 26 | |||||
Other expenses
|
(11
|
)
|
(7
|
)
|
||||
Total
|
(2,105
|
)
|
(2,347
|
)
|
||||
NET REALIZED LOSSES | ||||||||
Investments for liquidity purpose (Notes C, I, M, and N)
|
(2
|
)
|
(8
|
)
|
||||
Equity investments — operations (Note N)
|
1
|
2
|
||||||
Total
|
(1
|
)
|
(6
|
)
|
||||
NET UNREALIZED (LOSSES) GAINS (Notes G, I, L, and N)
|
(76
|
)
|
261
|
|||||
NET INCOME
|
$
|
327
|
$
|
699
|
ASIAN DEVELOPMENT BANK—ORDINARY CAPITAL RESOURCES
For the Three Months Ended 31 March 2025 and 2024
Expressed in Millions of US Dollars
|
||||||||||||||||
2025 |
2024
|
|||||||||||||||
NET INCOME (OCR-2)
|
$ | 327 |
$
|
699
|
||||||||||||
Other comprehensive income (loss) (Note M)
Unrealized holding gains (losses)
|
$ | 303 |
$
|
(492
|
)
|
|||||||||||
Currency translation adjustments
|
89 |
(70
|
)
|
|||||||||||||
Pension/postretirement liability adjustments
|
(6 | ) | 386 |
(6
|
)
|
(568
|
)
|
|||||||||
|
||||||||||||||||
COMPREHENSIVE INCOME
|
$ | 713 |
$
|
131
|
ASIAN DEVELOPMENT BANK—ORDINARY CAPITAL RESOURCES
|
||||||||
For the Three Months Ended 31 March 2025 and 2024
|
||||||||
Expressed in Millions of US Dollars
|
||||||||
2025 |
2024
|
|||||||
![]() Balance, beginning of period
|
$ | 56,435 |
$
|
55,294
|
||||
Comprehensive income for the period (OCR-3)
|
713 |
131
|
||||||
Encashment of demand obligations | 2 | 3 | ||||||
Change in US dollar value on
|
|
|||||||
Paid-in capital
|
114 | (93 | ) | |||||
Demand obligations
|
0 |
0
|
||||||
Net notional maintenance of value receivable
|
(52 | ) |
23
|
|||||
Balance, end of period
|
$ | 57,212 |
$
|
55,358
|
ASIAN DEVELOPMENT BANK—ORDINARY CAPITAL RESOURCES
For the Three Months Ended 31 March 2025 and 2024
Expressed in Millions of US Dollars
|
||||||||
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Interest and other charges received on loans — operations
|
$
|
1,407
|
$
|
1,443
|
||||
Interest received on investments for liquidity purpose
|
459
|
544
|
||||||
Interest received for securities purchased under resale/repurchase arrangement
|
3
|
7
|
||||||
Interest and other charges received on other debt securities — operations
|
14
|
13
|
||||||
Dividends and other cash distributions received on equity investments — operations
|
25
|
30
|
||||||
Interest and other financial expenses paid
|
(2,366
|
)
|
(2,332
|
)
|
||||
Administrative expenses paid
|
(199
|
)
|
(191
|
)
|
||||
Others—net
|
21
|
16
|
||||||
Net Cash Used in Operating Activities
|
(636
|
)
|
(470
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Sales of investments for liquidity purpose
|
1,009
|
572
|
||||||
Maturities of investments for liquidity purpose
|
67,951
|
90,686
|
||||||
Purchases of investments for liquidity purpose
|
(80,629
|
)
|
(95,971
|
)
|
||||
Receipts from securities purchased under resale arrangements
|
15,620
|
34,172
|
||||||
Payments for securities purchased under resale arrangements
|
(15,597
|
)
|
(33,959
|
)
|
||||
Principal collected on loans — operations
|
3,073
|
2,527
|
||||||
Loans — operations disbursed
|
(4,489
|
)
|
(3,152
|
)
|
||||
Derivatives—net
|
756
|
249
|
||||||
Property, furniture, and equipment acquired
|
(14
|
)
|
(13
|
)
|
||||
Sales of equity investments — operations
|
1
|
5
|
||||||
Purchases of equity investments — operations
|
(52
|
)
|
(39
|
)
|
||||
Maturities of other debt securities — operations
|
31
|
21
|
||||||
Purchases of other debt securities — operations
|
(7
|
)
|
(30
|
)
|
||||
Net Cash Used in Investing Activities
|
(12,347
|
)
|
(4,932
|
)
|
||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Proceeds from new borrowings
|
20,320
|
24,256
|
||||||
Borrowings redeemed
|
(7,517
|
)
|
(18,666
|
)
|
||||
Issuance expenses paid
|
(14
|
)
|
(14
|
)
|
||||
Demand obligations of members encashed
|
2
|
3
|
||||||
Derivatives—net
|
(294
|
)
|
(152
|
)
|
||||
Change in swap related collateral
|
(118
|
)
|
225
|
|||||
Net Cash Provided by Financing Activities
|
12,379
|
5,652
|
||||||
Effect of Exchange Rate Changes on Cash
|
(302
|
)
|
(73
|
)
|
||||
Net (Decrease) Increase in Cash
|
(906
|
)
|
177
|
|||||
Cash at Beginning of Period
|
||||||||
Due from Banks
|
2,235
|
998
|
||||||
Swap Related and Other Collateral
|
857
|
393
|
||||||
Total
|
3,092
|
1,391
|
||||||
Cash at End of Period
|
||||||||
Due from Banks
|
1,447
|
952
|
||||||
Swap Related and Other Collateral
|
739
|
616
|
||||||
Total
|
$
|
2,186
|
$
|
1,568
|
||||
($ million)
|
||||||||||||||||
31 March 2025
|
31 December 2024
|
|||||||||||||||
Amortized
|
Amortized
|
|||||||||||||||
Fair Value
|
Cost
|
Fair Value
|
Cost
|
|||||||||||||
Due in one year or less
|
$
|
27,242
|
$
|
27,280
|
$
|
14,824
|
$
|
14,857
|
||||||||
Due after one year through five years
|
25,675
|
26,078
|
27,734
|
28,270
|
||||||||||||
Due after five years through ten years
|
2,771
|
2,781
|
2,459
|
2,599
|
||||||||||||
Due after ten years through fifteen years
|
2,123
|
2,104
|
949
|
987
|
||||||||||||
Due after fifteen years
|
754
|
841
|
729
|
830
|
||||||||||||
Total
|
$
|
58,565
|
$
|
59,084
|
$
|
46,695
|
$
|
47,543
|
($ million)
|
||||||||||||||||
Amortized
|
Gross Unrealized
|
|||||||||||||||
Cost
|
Gains
|
Losses
|
Fair Value
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Government or government-related obligations
|
$
|
35,124
|
$
|
119
|
$
|
(551
|
)
|
$
|
34,692
|
|||||||
Other securities
|
||||||||||||||||
Corporate obligations
|
9,314
|
61
|
(56
|
)
|
9,319
|
|||||||||||
Asset/Mortgage-backed securities
|
1,827
|
7
|
(98
|
)
|
1,736
|
|||||||||||
Total
|
$
|
46,265
|
$
|
187
|
$
|
(705
|
)
|
$
|
45,747
|
|||||||
31 December 2024
|
||||||||||||||||
Government or government-related obligations
|
$
|
31,759
|
$
|
59
|
$
|
(761
|
)
|
$
|
31,057
|
|||||||
Other securities
|
||||||||||||||||
Corporate obligations
|
9,359
|
48
|
(84
|
)
|
9,323
|
|||||||||||
Asset/Mortgage-backed securities
|
1,823
|
5
|
(115
|
)
|
1,713
|
|||||||||||
Total
|
$
|
42,941
|
$
|
112
|
$
|
(960
|
)
|
$
|
42,093
|
For the three months ended 31 March:
|
2025 |
2024
|
||||||
Change in net unrealized gains and losses from prior period
|
$
|
330
|
$
|
(52
|
)
|
|||
Proceeds from sales
|
1,009
|
572
|
||||||
Gross gain on sales
|
2
|
1
|
||||||
Gross loss on sales
|
(4
|
)
|
(9
|
)
|
($ million) | ||||||||||||||||||||||||
One year or less
|
Over one year
|
Total
|
||||||||||||||||||||||
Unrealized
|
Unrealized
|
Unrealized
|
||||||||||||||||||||||
Fair Value
|
Losses
|
Fair Value
|
Losses
|
Fair Value
|
Losses
|
|||||||||||||||||||
31 March 2025
|
||||||||||||||||||||||||
Government or government-related obligations
|
$
|
3,332
|
$
|
35
|
$
|
15,246
|
$
|
516
|
$
|
18,578
|
$
|
551
|
||||||||||||
Other securities Corporate obligations
|
1,119
|
5
|
1,662
|
51
|
2,781
|
56
|
||||||||||||||||||
Asset/Mortgage-backed securities
|
242
|
1
|
640
|
97
|
882
|
98
|
||||||||||||||||||
Total
|
$
|
4,693
|
$
|
41
|
$
|
17,548
|
$
|
664
|
$
|
22,241
|
$
|
705
|
||||||||||||
31 December 2024
|
||||||||||||||||||||||||
Government or government-related obligations
|
$
|
9,819
|
$
|
142
|
$
|
15,623
|
$
|
619
|
$
|
25,442
|
$
|
761
|
||||||||||||
Other securities Corporate obligations
|
1,954
|
14
|
1,766
|
70
|
3,720
|
84
|
||||||||||||||||||
Asset/Mortgage-backed securities
|
434
|
4
|
659
|
111
|
1,093
|
115
|
||||||||||||||||||
Total
|
$
|
12,207
|
$
|
160
|
$
|
18,048
|
$
|
800
|
$
|
30,255
|
$
|
960
|
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Government or government-related obligations
|
$
|
34,692
|
$
|
30,952
|
$
|
3,740
|
$
|
–
|
||||||||
Time deposits
|
12,819
|
–
|
12,819
|
–
|
||||||||||||
Other securities
|
11,054
|
7,566
|
3,488
|
–
|
||||||||||||
Securities transferred under repurchase agreements
|
908
|
908
|
–
|
–
|
||||||||||||
Securities purchased under resale arrangements
|
237
|
–
|
237
|
–
|
||||||||||||
Total at fair value
|
$
|
59,710
|
$
|
39,426
|
$
|
20,284
|
$
|
–
|
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose | ||||||||||||||||
Government or government-related obligations
|
$
|
31,057
|
$
|
28,474
|
$
|
2,583
|
$
|
–
|
||||||||
Time deposits
|
4,602
|
–
|
4,602
|
–
|
||||||||||||
Other securities
|
11,036
|
7,123
|
3,913
|
–
|
||||||||||||
Securities transferred under repurchase agreements
|
–
|
–
|
–
|
–
|
||||||||||||
Securities purchased under resale arrangements
|
260
|
–
|
260
|
–
|
||||||||||||
Total at fair value
|
$
|
46,955
|
$
|
35,597
|
$
|
11,358
|
$
|
–
|
(a)
|
(b)
|
(c) = (a) – (b)
|
|||||||||||||||
Gross amount
|
Gross amounts not offset in the
|
||||||||||||||||
of liabilities
|
balance sheet
|
||||||||||||||||
presented in the
|
Financial
|
Collateral
|
|||||||||||||||
balance sheet
|
instruments
|
pledged
|
Net amount
|
||||||||||||||
31 March 2025
|
|||||||||||||||||
Payable under securities repurchase agreements
|
$
|
908
|
$
|
908
|
|
$
|
–
|
$
|
0
|
||||||||
31 December 2024
|
|||||||||||||||||
Payable under securities repurchase agreements
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
–
|
Remaining contractual maturity of the agreements
|
|
|||||||||||||||
1-30 Days
|
31-90 Days
|
> 90 Days
|
Total
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Payable under securities repurchase agreement
|
||||||||||||||||
Government or government-related obligations
|
$
|
908
|
$
|
–
|
$
|
–
|
$
|
908
|
||||||||
Gross amount of recognized liabilities for repurchase agreements disclosed above
|
908
|
|||||||||||||||
Amounts related to agreements not included in offsetting disclosure
|
$
|
–
|
||||||||||||||
31 December 2024
|
||||||||||||||||
Payable under securities repurchase agreement
|
||||||||||||||||
Government or government-related obligations
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
–
|
||||||||
Gross amount of recognized liabilities for repurchase agreements disclosed above
|
–
|
|||||||||||||||
Amounts related to agreements not included in offsetting disclosure
|
$
|
–
|
31 March 2025
|
31 December 2024
|
|||||||||||||||
Borrower
|
$ million
|
%
|
$ million
|
%
|
||||||||||||
India
|
$
|
26,556
|
17
|
$
|
26,012
|
17
|
||||||||||
People’s Republic of China
|
18,005
|
11
|
18,101
|
12
|
||||||||||||
Philippines
|
17,234
|
11
|
15,728
|
10
|
||||||||||||
Bangladesh
|
16,515
|
11
|
16,373
|
11
|
||||||||||||
Pakistan
|
16,207
|
10
|
16,042
|
10
|
||||||||||||
Indonesia
|
14,565
|
9
|
13,903
|
9
|
||||||||||||
Others (individually less than 5% of total loans)
|
48,340
|
31
|
48,411
|
30
|
||||||||||||
157,422
|
100
|
154,570
|
100
|
|||||||||||||
Fair value adjustment on loans
|
(738
|
)
|
(411
|
)
|
||||||||||||
Allowance for credit losses
|
(594
|
)
|
(540
|
)
|
||||||||||||
Unamortized loan origination costs—net
|
253
|
245
|
||||||||||||||
(1,079
|
)
|
(706
|
)
|
|||||||||||||
Loans Outstanding
|
$
|
156,343
|
$
|
153,864
|
|
31 March 2025
|
31 December 2024
|
|||||||
Sovereign loans
|
||||||||
Regular
|
$
|
117,055
|
$
|
115,261
|
||||
Concessional
|
33,499
|
33,169
|
||||||
Subtotal
|
150,554
|
148,430
|
||||||
Nonsovereign loans
|
5,789
|
5,434
|
||||||
Total
|
$
|
156,343
|
$
|
153,864
|
31 March 2025
|
31 December 2024
|
|||||||||||||||||||||||
Undisbursed
|
Loans
|
Undisbursed
|
Loans
|
|||||||||||||||||||||
Committed Loans
|
Approved
|
Committed Loans
|
Approved
|
|||||||||||||||||||||
Not Yet
|
Not Yet
|
Not Yet
|
Not Yet
|
|||||||||||||||||||||
Effective
|
Effective
|
Committed
|
Effective
|
Effective
|
Committed
|
|||||||||||||||||||
Sovereign loans
|
||||||||||||||||||||||||
Regular
|
$
|
32,615
|
$
|
1,005
|
$
|
880
|
$
|
29,025
|
$
|
6,338
|
$
|
1,020
|
||||||||||||
Concessional
|
12,227
|
866
|
125
|
11,500
|
2,033
|
–
|
||||||||||||||||||
Subtotal
|
44,842
|
1,871
|
1,005
|
40,525
|
8,371
|
1,020
|
||||||||||||||||||
Nonsovereign loans
|
1,718
|
–
|
293
|
2,219
|
–
|
350
|
||||||||||||||||||
Total
|
$
|
46,560
|
$
|
1,871
|
$
|
1,298
|
$
|
42,744
|
$
|
8,371
|
$
|
1,370
|
Overdue Loan Service Payments
|
||||||||||||||||||||||||
1-90
|
91-180
|
> 180
|
Total
|
|||||||||||||||||||||
Days
|
Days
|
Days
|
Past Due
|
Current
|
Total
|
|||||||||||||||||||
31 March 2025
|
||||||||||||||||||||||||
Sovereign loans
|
||||||||||||||||||||||||
Regular
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
117,494
|
$
|
117,494
|
||||||||||||
Concessional
|
4
|
2
|
14
|
20
|
33,751
|
33,771
|
||||||||||||||||||
Subtotal
|
4
|
2
|
14
|
20
|
151,245
|
151,265
|
||||||||||||||||||
Nonsovereign loans
|
3
|
3
|
44
|
50
|
6,107
|
6,157
|
||||||||||||||||||
Total
|
$
|
7
|
$
|
5
|
$
|
58
|
$
|
70
|
$
|
157,352
|
157,422
|
|||||||||||||
Fair value adjustment on loans
|
(738
|
)
|
||||||||||||||||||||||
Allowance for credit losses
|
(594
|
)
|
||||||||||||||||||||||
Unamortized loan origination cost—net
|
253
|
|||||||||||||||||||||||
Loans Outstanding
|
$
|
156,343
|
Overdue Loan Service Payments
|
||||||||||||||||||||||||
1-90
|
91-180
|
> 180
|
Total
|
|||||||||||||||||||||
Days
|
Days
|
Days
|
Past Due
|
Current
|
Total
|
|||||||||||||||||||
31 December 2024
|
||||||||||||||||||||||||
Sovereign loans
|
||||||||||||||||||||||||
Regular
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
115,377
|
$
|
115,377
|
||||||||||||
Concessional
|
2
|
4
|
10
|
16
|
33,423
|
33,439
|
||||||||||||||||||
Subtotal
|
2
|
4
|
10
|
16
|
148,800
|
148,816
|
||||||||||||||||||
Nonsovereign loans
|
3
|
2
|
44
|
49
|
5,705
|
5,754
|
||||||||||||||||||
Total
|
$
|
5
|
$
|
6
|
$
|
54
|
$
|
65
|
$
|
154,505
|
154,570
|
|||||||||||||
Fair value adjustment on concessional loans
|
(411
|
)
|
||||||||||||||||||||||
Allowance for credit losses
|
(540
|
)
|
||||||||||||||||||||||
Unamortized loan origination cost—net
|
245
|
|||||||||||||||||||||||
Loans Outstanding
|
$
|
153,864
|
As of
|
31 March 2025
|
31 December 2024
|
||||||
Amortized cost basis of loans in non-accrual statusa
|
||||||||
Sovereign
|
||||||||
Regular
|
$
|
–
|
$
|
–
|
||||
Concessional
|
495
|
486
|
||||||
Nonsovereign
|
95
|
98
|
||||||
Total
|
$
|
590
|
$
|
584
|
||||
Loans past due for more than 90 days not in non-accrual status
|
||||||||
Sovereign
|
||||||||
Regular
|
$
|
–
|
$
|
–
|
||||
Concessional
|
–
|
–
|
||||||
Nonsovereign
|
–
|
–
|
||||||
Total
|
$
|
–
|
$
|
–
|
||||
For the three months ended 31 March:
|
2025
|
2024
|
||||||
Interest income recognized on payments received for loans in non-accrual status
|
|
|||||||
Sovereign
|
||||||||
Regular
|
$
|
–
|
$
|
–
|
||||
Concessional
|
–
|
6
|
||||||
Nonsovereign
|
1
|
–
|
||||||
Total
|
$
|
1
|
$
|
6
|
31 March 2025
|
|||||||||||||||||||||||||||||||||
Private
|
|||||||||||||||||||||||||||||||||
Origination Year
|
sector
|
||||||||||||||||||||||||||||||||
Risk Class
|
Risk Rating
|
2025
|
2024
|
2023
|
2022
|
2021
|
Prior
|
programs
|
Total
|
||||||||||||||||||||||||
Sovereign Loans:
|
|
||||||||||||||||||||||||||||||||
Low credit risk
|
1–5 (AAA to BBB–)
|
$
|
501
|
$
|
3,863
|
$
|
4,593
|
$
|
4,065
|
$
|
6,669
|
$
|
55,554
|
$
|
–
|
$
|
75,245
|
||||||||||||||||
Medium credit risk
|
6–8 (BB+ to BB–)
|
–
|
52
|
17
|
109
|
424
|
10,832
|
–
|
11,434
|
||||||||||||||||||||||||
Significant credit risk
|
9–10 (B+ to B)
|
–
|
2,136
|
2,094
|
2,257
|
2,739
|
24,746
|
–
|
33,972
|
||||||||||||||||||||||||
High credit risk and non-accrual
|
11–14 (B– to D)
|
–
|
1,797
|
1,274
|
2,464
|
2,250
|
22,383
|
–
|
30,168
|
||||||||||||||||||||||||
Total Sovereign Loans
|
|
501
|
7,848
|
7,978
|
8,895
|
12,082
|
113,515
|
–
|
150,819
|
||||||||||||||||||||||||
Nonsovereign Loans:
|
|
||||||||||||||||||||||||||||||||
Low credit risk
|
1–5 (AAA to BBB–)
|
–
|
176
|
122
|
223
|
–
|
975
|
86
|
1,582
|
||||||||||||||||||||||||
Medium credit risk
|
6–8 (BB+ to BB–)
|
–
|
526
|
360
|
320
|
193
|
990
|
69
|
2,458
|
||||||||||||||||||||||||
Significant credit risk
|
9–10 (B+ to B)
|
–
|
108
|
245
|
107
|
10
|
670
|
69
|
1,209
|
||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||
High credit risk and non-accrual
|
11–14 (B– to D)
|
–
|
14
|
58
|
9
|
11
|
753
|
24
|
869
|
||||||||||||||||||||||||
Total Nonsovereign Loans
|
–
|
824
|
785
|
659
|
214
|
3,388
|
248
|
6,118
|
|||||||||||||||||||||||||
Total
|
$
|
501
|
$
|
8,672
|
$
|
8,763
|
$
|
9,554
|
$
|
12,296
|
$
|
116,903
|
$
|
248
|
$
|
156,937
|
1.
|
Private sector programs include Trade and Supply Chain Finance Program and Microfinance Program.
|
2.
|
The amount of accrued interest excluded from the amortized cost basis in the above table is $1,749 million.
|
31 December 2024
|
|||||||||||||||||||||||||||||||||
Private
|
|||||||||||||||||||||||||||||||||
Origination Year
|
sector
|
||||||||||||||||||||||||||||||||
Risk Class
|
Risk Rating
|
2024
|
2023
|
2022
|
2021
|
2020
|
Prior
|
programs
|
Total
|
||||||||||||||||||||||||
Sovereign Loans:
|
|||||||||||||||||||||||||||||||||
Low credit risk
|
1–5 (AAA to BBB–)
|
$
|
1,721
|
$
|
4,464
|
$
|
3,982
|
$
|
6,594
|
$
|
9,902
|
$
|
46,925
|
$
|
–
|
$
|
73,588
|
||||||||||||||||
Medium credit risk
|
6–8 (BB+ to BB–)
|
33
|
16
|
104
|
430
|
408
|
10,413
|
–
|
11,404
|
||||||||||||||||||||||||
Significant credit risk
|
9–10 (B+ to B)
|
2,088
|
1,949
|
2,220
|
2,704
|
3,527
|
21,203
|
–
|
33,691
|
||||||||||||||||||||||||
High credit risk and
|
|||||||||||||||||||||||||||||||||
non-accrual
|
11–14 (B– to D)
|
1,651
|
1,237
|
2,439
|
2,222
|
2,518
|
19,934
|
–
|
30,001
|
||||||||||||||||||||||||
Total Sovereign Loans
|
5,493
|
7,666
|
8,745
|
11,950
|
16,355
|
98,475
|
–
|
148,684
|
|||||||||||||||||||||||||
Gross write-offs
|
–
|
–
|
–
|
–
|
–
|
10
|
–
|
10
|
|||||||||||||||||||||||||
Nonsovereign Loans:
|
|||||||||||||||||||||||||||||||||
Low credit risk
|
1–5 (AAA to BBB–)
|
(1
|
)
|
122
|
232
|
–
|
47
|
973
|
82
|
1,455
|
|||||||||||||||||||||||
Medium credit risk
|
6–8 (BB+ to BB–)
|
248
|
303
|
322
|
202
|
157
|
870
|
47
|
2,149
|
||||||||||||||||||||||||
Significant credit risk
|
9–10 (B+ to B)
|
64
|
243
|
119
|
17
|
96
|
526
|
92
|
1,157
|
||||||||||||||||||||||||
High credit risk and
|
|||||||||||||||||||||||||||||||||
non-accrual
|
11–14 (B– to D)
|
14
|
65
|
9
|
11
|
–
|
848
|
12
|
959
|
||||||||||||||||||||||||
Total Nonsovereign Loans
|
325
|
733
|
682
|
230
|
300
|
3,217
|
233
|
5,720
|
|||||||||||||||||||||||||
Gross write-offs
|
–
|
–
|
–
|
–
|
–
|
65
|
–
|
65
|
|||||||||||||||||||||||||
Total
|
$
|
5,818
|
$
|
8,399
|
$
|
9,427
|
$
|
12,180
|
$
|
16,655
|
$
|
101,692
|
$
|
233
|
$
|
154,404
|
1.
|
Private sector programs include Trade and Supply Chain Finance Program and Microfinance Program.
|
2.
|
The amount of accrued interest excluded from the amortized cost basis in the above table is $1,427 million.
|
31 March 2025
|
31 December 2024
|
|||||||||||||||||||||||
Sovereign
|
Nonsovereign
|
Sovereign
|
Nonsovereign
|
|||||||||||||||||||||
Loans
|
Loans
|
Total
|
Loans
|
Loans
|
Total
|
|||||||||||||||||||
Beginning balance
|
$
|
254
|
$
|
286
|
$
|
540
|
$
|
271
|
$
|
381
|
$
|
652
|
||||||||||||
Provision (Release of provision)
|
11
|
43
|
54
|
(7
|
)
|
(30
|
)
|
(37
|
)
|
|||||||||||||||
Write-off
|
–
|
–
|
–
|
(10
|
)a
|
(65
|
)
|
(75
|
)
|
|||||||||||||||
Ending balance
|
$
|
265
|
$
|
329
|
$
|
594
|
$
|
254
|
$
|
286
|
$
|
540
|
31 March 2025
|
31 December 2024
|
|||||||
Level 1
|
$
|
–
|
$
|
–
|
||||
Level 2
|
–
|
–
|
||||||
Level 3
|
157,341
|
154,436
|
||||||
Total at fair value
|
$
|
157,341
|
$
|
154,436
|
31 March 2025
|
31 December 2024
|
|||||||||||||||
Maximum | Maximum | |||||||||||||||
Potential
|
Outstanding
|
Potential | Outstanding | |||||||||||||
Exposure
|
Amount
|
Exposure
|
Amount | |||||||||||||
Project
|
||||||||||||||||
Sovereign
|
||||||||||||||||
with counterguarantee
|
$
|
33
|
$
|
–
|
$
|
33
|
$
|
–
|
||||||||
without counterguaranteea
|
6,427
|
6,343
|
6,427
|
6,344
|
||||||||||||
6,460
|
6,343
|
6,460
|
6,344
|
|||||||||||||
Nonsovereign
|
||||||||||||||||
with counterguarantee
|
80
|
34
|
81
|
35
|
||||||||||||
without counterguarantee
|
97
|
45
|
99
|
46
|
||||||||||||
177
|
79
|
180
|
81
|
|||||||||||||
Subtotal
|
6,637
|
6,422
|
6,640
|
6,425
|
||||||||||||
Private Sector Programs
|
||||||||||||||||
Nonsovereign
|
||||||||||||||||
with counterguarantee
|
715
|
715
|
964
|
964
|
||||||||||||
without counterguarantee
|
996
|
996
|
989
|
989
|
||||||||||||
Subtotal
|
1,711
|
1,711
|
1,953
|
1,953
|
||||||||||||
Total
|
$
|
8,348
|
$
|
8,133
|
$
|
8,593
|
$
|
8,378
|
Unobservable
|
||||||
Valuation Technique
|
Input
|
31 March 2025
|
31 December 2024
|
|||
Discounted cash flows
|
Discount rates
|
2.22%
|
2.22%
|
1
|
ADB provides two primary guarantee products – a credit guarantee and a political risk guarantee. ADB’s credit guarantee is designed as credit enhancements for eligible
projects to cover risks that the project and its commercial cofinancing partners cannot easily absorb or manage on their own. ADB also provides political risk guarantees to cover specifically defined
political risks such as expropriation, currency inconvertibility or non-transfer. Reducing these risks can make a significant difference in mobilizing private sector financing for projects.
|
Guarantee Receivable/Liability
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Balance, beginning of the period
|
$
|
331
|
$
|
207
|
||||
Issuances
|
16
|
172
|
||||||
Amortization
|
(13
|
)
|
(48
|
)
|
||||
Balance, end of the period
|
$
|
334
|
$
|
331
|
($ million)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Equity method
|
$
|
1,303
|
$
|
1,254
|
||||
Fair value method
|
399
|
373
|
||||||
Total
|
$
|
1,702
|
$
|
1,627
|
($ million)
|
||||||||
As of
|
31 March 2025
|
31 December 2024
|
||||||
Cost
|
$
|
375
|
$
|
333
|
||||
Fair value
|
399
|
373
|
||||||
Gross unrealized gains
|
90
|
98
|
||||||
Gross unrealized losses
|
(66
|
)
|
(58
|
)
|
||||
For the three months ended 31 March:
|
2025
|
2024
|
||||||
Net unrealized (losses) gains
|
$
|
(16
|
)
|
$
|
5
|
|||
Net realized gains
|
1
|
2
|
||||||
Net (losses) gains
|
(15
|
)
|
7
|
31 March 2025
|
31 December 2024
|
|||||||
Level 1
|
$
|
84
|
$
|
96
|
||||
Level 2
|
148
|
124
|
||||||
Level 3
|
167
|
153
|
||||||
Total equity investments at fair value
|
$
|
399
|
$
|
373
|
Fair Value
|
Range
|
|||||||
Valuation Technique |
($ million)
|
Unobservable Inputs |
(Weighted Average)a
|
|||||
31 March 2025 | ||||||||
Discounted cash flow
|
$ | 34 |
Discount rate
|
15.10% – 23.70% (18.67%) | ||||
Comparable valuations | 80 |
Price-to-book multiples |
0.48x – 1.07x(0.86x) | |||||
|
EV/EBITDA | 15.40x | ||||||
Net asset value |
53
|
Discount | 40% | |||||
$ | 167 | |||||||
31 December 2024 | ||||||||
Discounted cash flow | $ | 19 |
Discount rate | 13.4% – 14.6% (14.24%) | ||||
Comparable valuations | 85 |
Price-to-book multiples |
0.50x – 1.10x(0.92x) | |||||
EV/EBITDA | (17.50x) | |||||||
Net asset value
|
49 |
Discount | (40%) | |||||
$ |
153 |
Equity investments under FV Method
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Balance, beginning of period
|
$
|
153
|
$
|
240
|
||||
Transfer to Level 3
|
25
|
34
|
||||||
Disbursement
|
–
|
0
|
||||||
Divestment
|
(0
|
)
|
(48
|
)
|
||||
Reclassified out of Level 3
|
(8
|
)
|
(24
|
)
|
||||
Total unrealized losses
|
||||||||
Included in earningsa
|
(5
|
)
|
(44
|
)
|
||||
Included in other comprehensive income (loss)b
|
2
|
(5
|
)
|
|||||
Balance, end of period
|
$
|
167
|
$
|
153
|
||||
The amount of total losses for the period included in earnings attributable to the change in
unrealized gains or losses relating to assets still held at reporting datea
|
$
|
(7
|
)
|
$
|
(41
|
)
|
31 March 2025
|
31 December 2024
|
|||||||
Available for sale
|
$
|
124
|
$
|
120
|
||||
Held-to-maturity
|
492
|
515
|
||||||
616
|
635
|
|||||||
Allowance for credit losses
|
(13
|
)
|
(14
|
)
|
||||
Total
|
$
|
603
|
$
|
621
|
31 March 2025
|
31 December 2024
|
|||||||||||||||
Amortized
Cost
|
Fair Value
|
Amortized
Cost
|
Fair Value
|
|||||||||||||
Due in one year or less
|
$
|
172
|
$
|
193
|
$
|
179
|
$
|
202
|
||||||||
Due after one year through five years
|
401
|
399
|
411
|
407
|
||||||||||||
Due after five years through ten years
|
42
|
32
|
48
|
35
|
||||||||||||
Due after ten years through fifteen years
|
–
|
–
|
–
|
–
|
||||||||||||
Due after fifteen years through twenty years
|
0
|
2
|
–
|
1
|
||||||||||||
Total
|
$
|
615
|
$
|
626
|
$
|
638
|
$
|
645
|
31 March 2025
|
||||||||||||||||||||||||||||||
Origination Year | ||||||||||||||||||||||||||||||
Risk Class
|
Risk Rating
|
2025
|
2024
|
2023
|
2022
|
2021
|
Prior
|
Total
|
||||||||||||||||||||||
Low credit risk
|
1-5 (AAA to BBB–)
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
10 |
$
|
–
|
$
|
–
|
$
|
10
|
|||||||||||||||
Medium credit risk
|
6-8 (BB+ to BB–)
|
–
|
24
|
88
|
24
|
36
|
202
|
374
|
||||||||||||||||||||||
Significant credit risk
|
9-10 (B+ to B)
|
–
|
12
|
7
|
–
|
–
|
–
|
19
|
||||||||||||||||||||||
High credit risk and
non-accrual
|
11-14 (B– to D)
|
–
|
–
|
–
|
–
|
–
|
89 | 89 |
||||||||||||||||||||||
Total | $ | – | $ | 36 | $ | 95 | $ | 34 |
$ | 36 |
$ | 291 | $ | 492 |
31 December 2024
|
||||||||||||||||||||||||||||||
Origination Year
|
||||||||||||||||||||||||||||||
Risk Class
|
Risk Rating
|
2024
|
2023
|
2022
|
2021
|
2020
|
Prior
|
Total | ||||||||||||||||||||||
Low credit risk
|
1-5(AAA to BBB–)
|
$
|
–
|
$
|
–
|
$
|
10
|
$
|
–
|
$
|
–
|
$
|
–
|
$
|
10
|
|||||||||||||||
Medium credit risk
|
6-8(BB+ to BB–)
|
24
|
92
|
25
|
40
|
38
|
172
|
391
|
||||||||||||||||||||||
Significant credit risk
|
9-10 (B+ to B) |
12
|
7
|
7
|
–
|
–
|
–
|
26
|
||||||||||||||||||||||
High credit risk and
|
||||||||||||||||||||||||||||||
non-accrual
|
11-14 (B– to D) |
–
|
–
|
–
|
–
|
–
|
88
|
88
|
||||||||||||||||||||||
Total
|
$
|
36
|
$
|
99
|
$
|
42
|
$
|
40
|
$
|
38
|
$
|
260
|
$
|
515
|
31 March 2025
|
31 December 2024
|
|||||||
Balance, beginning of the period
|
$
|
14
|
$
|
4
|
||||
(Release of provision) Provision
|
(1
|
)
|
10
|
|||||
Balance, end of the period
|
$
|
13
|
$
|
14
|
31 March 2025
|
31 December 2024
|
|||||||
Level 1
|
$
|
113
|
$
|
95
|
||||
Level 2
|
–
|
15
|
||||||
Level 3
|
513
|
535
|
||||||
Total at fair value
|
$
|
626
|
$
|
645
|
Unobservable |
Range (Average)a
|
|||||||
Valuation Technique
|
Inputs
|
31 March 2025
|
31 December 2024
|
|||||
Discounted cash flows
|
Discount rate
|
18.30%
|
|
18.30%
|
|
|||
Scenario-based
|
||||||||
financial model
|
Future cash flows
|
20.00% to 93.35% (83.75%)
|
79.00% to 96.00% (80.00%)
|
31 March 2025
|
31 December 2024
|
|||||||
Balance, beginning of the period
|
$
|
10
|
$
|
–
|
||||
Transfer into Level 3
|
–
|
10
|
||||||
|
||||||||
Total unrealized gains (losses) included in accumulated other comprehensive incomea
|
1
|
(0
|
)
|
|||||
Balance, end of the period
|
$
|
11
|
$
|
10
|
||||
The amount of total gains for the period included in other comprehensive income attributable to the change
in net unrealized gains or lossesb relating assets still held at the reporting date
|
$ | 1 |
$ | (0 |
) |
($ million)
|
||||||||
As of
|
31 March 2025
|
31 December 2024
|
||||||
Amortized cost
|
$
|
123
|
$
|
123
|
||||
Fair value
|
124
|
120
|
||||||
Gross unrealized gains
|
4
|
1
|
||||||
Gross unrealized losses
|
(3
|
)
|
(4
|
)
|
||||
For the three months ended 31 March:
|
2025
|
2024 | ||||||
Change in net unrealized gains or losses from prior period
|
$ | 4 |
$ | 2 |
Balance Sheet | Fair Value Measurements | |||||||||||||||||
Location |
Total | Level 1 | Level 2 | Level 3 | ||||||||||||||
31 March 2025 | ||||||||||||||||||
Assets | ||||||||||||||||||
Borrowings related derivatives
|
Derivative Assets
- Borrowings
|
|||||||||||||||||
Currency swaps
|
$
|
69,895
|
$
|
–
|
$
|
67,037
|
$
|
2,858
|
||||||||||
Interest rate swaps
|
353
|
–
|
352
|
1
|
||||||||||||||
Investments related derivatives
|
Derivative Assets
- Investments for
|
|||||||||||||||||
Currency swaps
|
19,055
|
–
|
19,055
|
–
|
||||||||||||||
Interest rate swaps
|
liquidity purpose
|
254
|
–
|
254
|
–
|
|||||||||||||
Foreign exchange swaps
|
8,543
|
–
|
8,543
|
–
|
||||||||||||||
Foreign exchange forward
|
150
|
–
|
150
|
–
|
||||||||||||||
Loans related derivatives
|
Derivative Assets
- Loans — Operations
|
|||||||||||||||||
Currency swaps
|
16,942
|
–
|
16,942
|
–
|
||||||||||||||
Interest rate swaps
|
228
|
–
|
228
|
–
|
||||||||||||||
Total assets at fair value
|
$ |
115,420
|
$ | – | $ |
112,561
|
$ |
2,859
|
||||||||||
Liabilities
|
||||||||||||||||||
Borrowings related derivatives
|
Derivative Liabilities
- Borrowings
|
|
||||||||||||||||
Currency swaps
|
$ |
73,944
|
$ |
– | $ |
73,944 | $ |
– | ||||||||||
Interest rate swaps
|
3,444
|
– | 3,444 | 0 |
||||||||||||||
Investments related derivatives
|
Derivative Liabilities
- Investments for
liquidity purpose
|
|||||||||||||||||
Currency swaps
|
17,358
|
– |
17,358
|
– | ||||||||||||||
Interest rate swaps
|
68
|
– |
68
|
– | ||||||||||||||
Foreign exchange swaps
|
8,563
|
– |
8,563
|
– | ||||||||||||||
Foreign exchange forward
|
152
|
– |
152
|
– | ||||||||||||||
Loans related derivatives
|
Derivative Liabilities
- Loans —
Operations
|
|||||||||||||||||
Currency swaps
|
14,746
|
– |
12,084
|
2,662 |
||||||||||||||
Interest rate swaps
|
88
|
– |
88
|
– | ||||||||||||||
Total liabilities at fair value
|
$ |
118,363
|
$ |
– | $ |
115,701
|
$ |
2,662
|
Balance Sheet | Fair Value Measurements | |||||||||||||||
|
Location
|
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||
31 December 2024 | ||||||||||||||||
Assets | ||||||||||||||||
Borrowings related derivatives
|
Derivative Assets
|
|||||||||||||||
Currency swaps
|
- Borrowings
|
$
|
61,141
|
$
|
–
|
$
|
58,608
|
$
|
2,533
|
|||||||
Interest rate swaps
|
143
|
–
|
143
|
0
|
||||||||||||
Foreign exchange swaps
|
588
|
–
|
588 |
– |
||||||||||||
Investments related derivatives |
Derivative Assets
|
|||||||||||||||
Currency swaps
|
- Investments for |
16,485
|
–
|
16,485
|
–
|
|||||||||||
Interest rate swaps
|
liquidity purpose |
299
|
–
|
299
|
–
|
|||||||||||
Foreign exchange swaps
|
9,077
|
–
|
9,077
|
–
|
||||||||||||
Foreign exchange forward
|
201
|
–
|
201
|
–
|
||||||||||||
Loans related derivatives
|
Derivative Assets
|
|||||||||||||||
Currency swaps
|
- Loans —
Operations
|
17,415
|
–
|
17,415
|
–
|
|||||||||||
Interest rate swaps
|
256
|
–
|
256
|
– | ||||||||||||
Total assets at fair value
|
$
|
105,605
|
$
|
–
|
$
|
103,072
|
$
|
2,533
|
||||||||
Liabilities
|
||||||||||||||||
Borrowings related derivatives
|
Derivative Liabilities
|
|||||||||||||||
Currency swaps
|
- Borrowings
|
$
|
66,502
|
$
|
–
|
$
|
66,502
|
$
|
–
|
|||||||
Interest rate swaps
|
4,615
|
–
|
4,614
|
1
|
||||||||||||
Foreign exchange swaps
|
586
|
– | 586 | – |
||||||||||||
Investments related
derivatives
|
Derivative Liabilities | |||||||||||||||
Currency swaps
|
- Investments for
|
14,388
|
–
|
14,388
|
–
|
|||||||||||
Interest rate swaps
|
liquidity purpose |
99
|
–
|
99
|
–
|
|||||||||||
Foreign exchange swaps
|
8,599
|
–
|
8,599
|
–
|
||||||||||||
Foreign exchange forward
|
206
|
–
|
206
|
–
|
||||||||||||
Loans related derivatives
|
Derivative Liabilities
|
|||||||||||||||
Currency swaps
|
- Loans —
Operations
|
14,698
|
–
|
12,986
|
1,712
|
|||||||||||
Interest rate swaps
|
123
|
–
|
123
|
– | ||||||||||||
Total liabilities at fair value
|
$
|
109,816
|
$
|
–
|
$
|
108,103
|
$
|
1,713
|
53
OCR-6
continued
Range (Weighted Average)a
|
||||||
Valuation Technique
|
Unobservable Inputs
|
31 March 2025
|
31 December 2024
|
|||
Discounted cash flows
|
Basis swap spreads
|
-0.48% to 42.55% (58.39%)
|
-0.47% to 38.83% (6.05%)
|
Borrowings related
|
||||||||||||||||
derivatives
|
Loans related derivatives
|
|||||||||||||||
Assets
|
Liabilities
|
Assets
|
Liabilities
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Balance, beginning of period
|
$
|
2,533
|
$
|
(1
|
)
|
$
|
0
|
$
|
(1,712
|
)
|
||||||
Total realized/unrealized gains (losses)
|
||||||||||||||||
Included in earningsa
|
15
|
0
|
–
|
(78
|
)
|
|||||||||||
Included in other comprehensive (loss) incomeb
|
84
|
0
|
–
|
39
|
||||||||||||
Issuances
|
294
|
–
|
–
|
(1,028
|
)
|
|||||||||||
Maturities/Redemptions
|
(67
|
)
|
–
|
–
|
117
|
|||||||||||
Balance, end of period
|
$
|
2,859
|
$
|
(1
|
)
|
$
|
–
|
$
|
(2,662
|
)
|
||||||
|
||||||||||||||||
The amount of total gains (losses) for the period included in earnings attributable to the change in net unrealized gains or
lossesa relating to assets/liabilities still held at the reporting date
|
$
|
(66
|
)
|
$
|
1
|
$
|
–
|
$
|
(81
|
)
|
||||||
31 December 2024
|
||||||||||||||||
Balance, beginning of year
|
$
|
2,083
|
$
|
(1
|
)
|
$
|
0
|
$
|
(913
|
)
|
||||||
Total realized/unrealized gains (losses)
|
||||||||||||||||
Included in earningsa
|
(57
|
)
|
(0
|
)
|
(0
|
)
|
(41
|
)
|
||||||||
Included in other comprehensive (loss) incomeb
|
(112
|
)
|
0
|
–
|
27
|
|||||||||||
Issuances
|
1,073
|
–
|
–
|
(910
|
)
|
|||||||||||
Maturities/Redemptions
|
(454
|
)
|
–
|
–
|
125
|
|||||||||||
Balance, end of year
|
$
|
2,533
|
$
|
(1
|
)
|
$
|
0
|
$
|
(1,712
|
)
|
||||||
|
||||||||||||||||
The amount of total gains (losses) for the year included
in earnings attributable to the change in net unrealized gains or lossesa relating to
assets/liabilities still held at the reporting date
|
$
|
(21
|
)
|
$
|
(0
|
)
|
$
|
0
|
$
|
(39
|
)
|
54
OCR-6
continued
Amount of Gain (Loss) recognized
|
||||||||||
Location of Gain (Loss) |
in Income (Expenses) on
|
|||||||||
recognized in Income (Expenses) |
Derivatives
|
|||||||||
on Derivatives
|
31 March2025
|
31 March 2024
|
||||||||
Borrowings related derivatives
|
||||||||||
Currency swaps
|
Borrowings and related expenses
|
$
|
(189
|
)
|
$
|
(347
|
)
|
|||
Net Realized Losses
|
–
|
–
|
||||||||
Net Unrealized (Losses) Gains
|
(63
|
)
|
(127
|
)
|
||||||
Interest rate swaps
|
Borrowings and related expenses
|
(423
|
)
|
(791
|
)
|
|||||
Net Unrealized (Losses) Gains
|
1,150
|
(752
|
)
|
|||||||
Foreign exchange swaps
|
Borrowings and related expenses
|
1
|
–
|
|||||||
Net Unrealized (Losses) Gains
|
(0
|
)
|
–
|
|||||||
$
|
476
|
$
|
(2,017
|
)
|
||||||
Investments related derivatives
|
||||||||||
Currency swaps
|
Revenue from Investments for
|
|||||||||
liquidity purpose
|
$
|
143
|
$
|
202
|
||||||
Net Unrealized (Losses) Gains
|
19
|
47
|
||||||||
Interest rate swaps
|
Revenue from Investments for
|
|||||||||
liquidity purpose
|
16
|
19
|
||||||||
Net Unrealized (Losses) Gains
|
(26
|
)
|
21
|
|||||||
Foreign exchange swaps
|
Revenue from Investments for
|
|||||||||
liquidity purpose
|
69
|
59
|
||||||||
Net Unrealized (Losses) Gains
|
(1
|
)
|
(2
|
)
|
||||||
$
|
220
|
$
|
346
|
|||||||
Loans related derivatives
|
||||||||||
Currency swaps
|
Revenue from Loans — Operations
|
$
|
653
|
$
|
196
|
|||||
Net Unrealized (Losses) Gains
|
(9
|
)
|
(89
|
)
|
||||||
Interest rate swaps
|
Revenue from Loans — Operations
|
6
|
8
|
|||||||
Net Unrealized (Losses) Gains
|
5
|
(9
|
)
|
|||||||
$
|
655
|
$
|
106
|
($ million)
|
||||||||||||||||
31 March 2025
|
31 December 2024
|
|||||||||||||||
Derivative
|
Derivative
|
Derivative
|
Derivative
|
|||||||||||||
assets
|
liabilities
|
assets
|
liabilities
|
|||||||||||||
Gross amounts presented in the balance sheet
|
$
|
115,420
|
$
|
(118,363
|
)
|
$
|
105,605
|
$
|
(109,816
|
)
|
||||||
Gross amounts not offset in the balance sheet
|
||||||||||||||||
Financial instruments
|
(114,641
|
)
|
114,641
|
(104,561
|
)
|
104,561
|
||||||||||
Collateral receiveda
|
(417
|
)
|
–
|
(728
|
)
|
–
|
||||||||||
Net amountb
|
$
|
362
|
$
|
(3,722
|
)
|
$
|
316
|
$
|
(5,255
|
)
|
a
|
Includes cash and securities collateral used to cover positive marked-to-market exposures.
|
b
|
ADB is not required to post collateral to counterparties when it is in a net liability position.
|
($ million)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Land
|
$
|
10
|
$
|
10
|
||||
Buildings and improvements
|
119
|
121
|
||||||
Office furniture and equipment
|
134
|
127
|
||||||
Right-of-use asset
|
62
|
51
|
||||||
Total
|
$
|
325
|
$
|
309
|
($ million)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Amounts receivable from:
|
||||||||
Asian Development Fund (Note N)
|
$
|
20
|
$
|
29
|
||||
Other Special Funds
|
1
|
1
|
||||||
Trust Funds and Others—net
|
6
|
5
|
||||||
Employee Benefit Plans—net
|
–
|
3
|
||||||
Total
|
$
|
27
|
$
|
38
|
||||
Amounts payable to:
|
||||||||
Employee Benefit Plans—net
|
$
|
6
|
$
|
–
|
($ million) | ||||||||
31 March 2025
|
31 December 2024
|
|||||||
At Amortized cost
|
$
|
2,376
|
$
|
2,394
|
||||
At Fair value
|
158,462
|
144,123
|
||||||
Total
|
$
|
160,838
|
$
|
146,517
|
($ million)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
At Amortized cost
|
||||||||
Level 1
|
$
|
–
|
$
|
–
|
||||
Level 2
|
2,046
|
2,040
|
||||||
Level 3
|
433
|
441
|
||||||
Subtotal
|
2,479
|
2,481
|
||||||
At Fair value
|
||||||||
Level 1
|
–
|
–
|
||||||
Level 2
|
149,347
|
136,948
|
||||||
Level 3
|
9,115
|
7,175
|
||||||
Subtotal
|
158,462
|
144,123
|
||||||
Total borrowings at fair value
|
$
|
160,941
|
$
|
146,604
|
Range (Weighted Average)a
|
||||||
Valuation Technique
|
Unobservable Inputs
|
31 March 2025
|
31 December 2024
|
|||
Discounted cash flows
|
Derived credit spreads
|
-0.71% to 5.94% (0.19%)
|
-1.54% to 6.11% (0.1%)
|
a | Unobservable inputs were weighted by the relative fair value of the instruments. |
($ million)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Balance, beginning of the period
|
$
|
7,175
|
$
|
7,033
|
||||
Total losses (gains) - (realized/unrealized)
|
||||||||
Included in earningsa
|
37
|
(27
|
)
|
|||||
Included in other comprehensive incomeb
|
85
|
(151
|
)
|
|||||
Issuances
|
2,092
|
3,540
|
||||||
Maturities/Redemptions
|
(274
|
)
|
(3,220
|
)
|
||||
Balance, end of the period
|
$
|
9,115
|
$
|
7,175
|
||||
The amount of total losses for the period included in earnings
attributable to the change in net unrealized gains or lossesa relating to
liabilities still held at the reporting date
|
$
|
(6
|
)
|
$
|
(29
|
)
|
||
The amount of total losses (gains) for the period included in other comprehensive income
attributable to the change in net unrealized gains or lossesc relating to
liabilities still held at the reporting date
|
$
|
(42
|
)
|
$
|
54
|
a |
Included in net unrealized (losses) gains (OCR-2).
|
b
|
Included in unrealized holding gains from borrowings and accumulated translation adjustments (Note M).
|
c
|
Included in unrealized holding gains from borrowings (Note M).
|
($ million) | ||||||||||||||||||||||||||||
Unrealized Holding (Losses) Gains
|
Pension/
|
Accumulated
|
||||||||||||||||||||||||||
Accumulated
|
Investments
|
Equity
|
Other Debt
|
Postretirement
|
Other
|
|||||||||||||||||||||||
Translation
|
for liquidity
|
investments — | Securities — |
Liability
|
Comprehensive
|
|||||||||||||||||||||||
Adjustments
|
purposea
|
Operations
|
Operations
|
Borrowings
|
Adjustments
|
Income (Loss)
|
||||||||||||||||||||||
Balance, 1 January 2025
|
$
|
(161
|
)
|
$
|
(848
|
)
|
$
|
(4
|
)
|
$
|
(3
|
)
|
$
|
253
|
$
|
524
|
$
|
(239
|
)
|
|||||||||
Other comprehensive
|
||||||||||||||||||||||||||||
income (loss) before
|
||||||||||||||||||||||||||||
reclassifications
|
89
|
293
|
–
|
4
|
2
|
–
|
388
|
|||||||||||||||||||||
Amounts reclassified
|
||||||||||||||||||||||||||||
from accumulated other
|
||||||||||||||||||||||||||||
comprehensive income
|
||||||||||||||||||||||||||||
(loss)
|
–
|
4
|
–
|
–
|
–
|
(6
|
)
|
(2
|
)
|
|||||||||||||||||||
Net current-period other
|
||||||||||||||||||||||||||||
comprehensive income (loss)
|
89
|
297
|
–
|
4
|
2
|
(6
|
)
|
386
|
||||||||||||||||||||
Balance, 31 March 2025
|
$
|
(72
|
)
|
$
|
(551
|
)
|
$
|
(4
|
)
|
$
|
1
|
$
|
255
|
$
|
518
|
$
|
147
|
a
|
Includes securities transferred under repurchase agreements.
|
($ million) | ||||||||||||||||||||||||||||
Unrealized Holding (Losses) Gains | Pension/ | Accumulated | ||||||||||||||||||||||||||
Accumulated Translation Adjustments |
Investments for liquidity purposea |
Equity investments — Operations |
Other Debt Securities — Operations |
Borrowings | Postretirement Liability Adjustments |
Other
Comprehensive Income (Loss)
|
||||||||||||||||||||||
Balance, 1 January 2024 | $ | 58 | $ | (1,057 | ) | $ | (16 | ) | $ | (5 | ) | $ | 496 | $ | 221 | $ | (303 | ) | ||||||||||
Other comprehensive (loss) income before reclassifications | (70 | ) |
(118 |
) |
5 | |
2 | (388 | ) | – | (659 | ) | ||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | – | 7 | – | – | – | (6 | ) | 1 | ||||||||||||||||||||
Net current-period other comprehensive (loss) income | (70 | ) |
(111 |
) |
5 | 2 | (388 | ) | (6 | ) | (568 | ) | ||||||||||||||||
Balance, 31 March 2024
|
$ | (12) |
$ | (1,168 | ) | $ | (11 | ) | $ | (3 | ) | $ | 108 | $ | 215 | $ | (871 |
) |
a
|
Includes securities transferred under repurchase agreements.
|
($ million) | ||||||||||
Accumulated Other Comprehensive
Income (Loss) Components
|
Amounts Reclassified from
Accumulated Other Comprehensive Income (Loss)a |
Affected Line Item in the Statement of Income and Expenses |
||||||||
2025 | 2024 | |||||||||
Unrealized Holding (Losses) Gains | ||||||||||
Investments for liquidity purpose | $ | (4 | ) | $ | (7 |
) | NET REALIZED LOSSES | |||
From investments for liquidity purpose | ||||||||||
Pension/Postretirement Liability | ||||||||||
Adjustments Actuarial losses | 6 | 6 | Administrative expenses | |||||||
Total reclassifications for the period | $ | 2 |
$ | (1 | ) |
a
|
Amounts in parentheses indicate debits to net income.
|
2 |
Includes amortized front-end fees and loan origination costs, risk participation
charges, and other loan-related income and/or expenses. |
($ million)
|
||||||||
2025
|
2024
|
|||||||
Fair value changes from:
|
||||||||
Borrowings and related derivatives
|
$
|
(50
|
)
|
$
|
285
|
|||
Investments related derivatives
|
(8
|
)
|
66
|
|||||
Loans related derivatives
|
(4
|
)
|
(98
|
)
|
||||
Equity investments
|
(16
|
)
|
6
|
|||||
Reclassification of unrealized gains on divested equity investment
|
–
|
(1
|
)
|
|||||
Translation adjustments of nonfunctional currencies
|
2
|
3
|
||||||
Total
|
$
|
(76
|
)
|
$
|
261
|
($ million)
|
||||||||||||||||
31 March 2025
|
31 December 2024
|
|||||||||||||||
Carrying
|
Fair
|
Carrying
|
Fair
|
|||||||||||||
Amount
|
Value
|
Amount
|
Value
|
|||||||||||||
On-balance sheet financial instruments:
|
||||||||||||||||
ASSETS:
|
||||||||||||||||
Due from banks
|
$
|
1,447
|
$
|
1,447
|
$
|
2,235
|
$
|
2,235
|
||||||||
Investments for liquidity purpose (Note C)
|
58,565
|
58,565
|
46,695
|
46,695
|
||||||||||||
Securities transferred under repurchase agreements (Note C)
|
908
|
908
|
–
|
–
|
||||||||||||
Securities purchased under resale arrangements (Note C)
|
237
|
237
|
260
|
260
|
||||||||||||
Loans outstanding (Note E)
|
156,343
|
157,341
|
153,864
|
154,436
|
||||||||||||
Equity investments — operations carried at fair value (Note G)
|
399
|
399
|
373
|
373
|
||||||||||||
Other debt securities — operations (Note H)
|
603
|
626
|
621
|
645
|
||||||||||||
Derivative assets - borrowings (Note I)
|
70,248
|
70,248
|
61,872
|
61,872
|
||||||||||||
Derivative assets - investments for liquidity purpose (Note I)
|
28,002
|
28,002
|
26,062
|
26,062
|
||||||||||||
Derivative assets - loans — operations (Note I)
|
17,170
|
17,170
|
17,671
|
17,671
|
||||||||||||
Swap related and other collateral (Note I)
|
739
|
739
|
857
|
857
|
||||||||||||
Future guarantee receivable (Note F)
|
334
|
334
|
331
|
331
|
||||||||||||
LIABILITIES:
|
||||||||||||||||
Borrowings (Note L)
|
160,838
|
160,941
|
146,517
|
146,604
|
||||||||||||
Derivative liabilities - borrowings (Note I)
|
77,388
|
77,388
|
71,703
|
71,703
|
||||||||||||
Derivative liabilities - investments for liquidity purpose (Note I)
|
26,141
|
26,141
|
23,292
|
23,292
|
||||||||||||
Derivative liabilities - loans — operations (Note I)
|
14,834
|
14,834
|
14,821
|
14,821
|
||||||||||||
Payable under securities repurchase agreements (Note D)
|
908
|
908
|
–
|
–
|
||||||||||||
Swap related and other collateral (Note I)
|
739
|
739
|
857
|
857
|
||||||||||||
Guarantee liability (Note F)
|
334
|
334
|
331
|
331
|
31 March
|
31 December
|
|||||||||||||||
(Unaudited)
|
(Audited)
|
|||||||||||||||
ASSETS
|
||||||||||||||||
DUE FROM BANKS
|
$
|
2
|
$
|
16
|
||||||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Note C)
|
||||||||||||||||
Government or government-related obligations
|
$
|
3,679
|
$
|
3,641
|
||||||||||||
Time deposits
|
199
|
289
|
||||||||||||||
Corporate obligations
|
766
|
4,644
|
707
|
4,637
|
||||||||||||
SECURITIES PURCHASED UNDER
|
||||||||||||||||
RESALE ARRANGEMENTS (Note C)
|
23
|
24
|
||||||||||||||
ACCRUED REVENUE
|
29
|
29
|
||||||||||||||
ADVANCES UNDER GRANTS (Note I)
|
321
|
385
|
||||||||||||||
OTHER ASSETS (Note F)
|
55
|
53
|
||||||||||||||
TOTAL
|
$
|
5,074
|
$
|
5,144
|
||||||||||||
LIABILITIES AND FUND BALANCES
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds and other liabilities (Note E)
|
$
|
21
|
$
|
29
|
||||||||||||
Advance payments on contributions (Note F)
|
103
|
103
|
||||||||||||||
Undisbursed grants (Note I)
|
3,138
|
3,044
|
||||||||||||||
Total Liabilities
|
3,262
|
3,176
|
||||||||||||||
FUND BALANCES (ADF-4)
|
||||||||||||||||
Contributions received
|
||||||||||||||||
Contributed resources (Note F)
|
$
|
36,707
|
$
|
36,694
|
||||||||||||
Unamortized discount
|
(37
|
)
|
36,670
|
(37
|
)
|
36,657
|
||||||||||
Transfers from Ordinary Capital Resources and Technical Assistance Special Fund
|
3,910
|
3,910
|
||||||||||||||
40,580
|
40,567
|
|||||||||||||||
|
||||||||||||||||
Nonnegotiable, noninterest-bearing demand obligations on account of contributions
|
(398
|
)
|
(419
|
)
|
||||||||||||
Accumulated deficit
|
||||||||||||||||
From assets transfer to OCR
|
(31,029
|
)
|
(31,029
|
)
|
||||||||||||
From others
|
(5,746
|
)
|
(36,775
|
)
|
(5,497
|
)
|
(36,526
|
)
|
||||||||
Accumulated other comprehensive loss (Note G)
|
(1,595
|
)
|
(1,654
|
)
|
||||||||||||
Total Fund Balance
|
1,812
|
1,968
|
||||||||||||||
TOTAL
|
$
|
5,074
|
$
|
5,144
|
2025
|
2024
|
|||||||
REVENUE FROM INVESTMENTS FOR LIQUIDITY PURPOSE (Note C)
|
$
|
35
|
$
|
32
|
||||
EXPENSES
|
||||||||
Grants (Note I)
|
(262
|
)
|
(131
|
)
|
||||
Administrative expenses (Notes E and H)
|
(20
|
)
|
(18
|
)
|
||||
Amortization of discounts on contributions
|
(1
|
)
|
(1
|
)
|
||||
Others—net
|
(0
|
)
|
(1
|
)
|
||||
TOTAL EXPENSES
|
(283
|
)
|
(151
|
)
|
||||
NET UNREALIZED LOSSES
|
(0
|
)
|
(0
|
)
|
||||
NET LOSS
|
$
|
(248
|
)
|
$
|
(119
|
)
|
2025
|
2024
|
|||||||
NET LOSS (ADF-2)
|
$
|
(248
|
)
|
$
|
(119
|
)
|
||
Other comprehensive income (loss) (Note G)
|
||||||||
Unrealized investment holding gains (losses) on investments for liquidity purpose
|
59
|
(22
|
)
|
|||||
COMPREHENSIVE LOSS
|
$
|
(189
|
)
|
$
|
(141
|
)
|
2025
|
2024
|
|||||||
Balance, 1 January
|
$
|
1,968
|
$
|
1,947
|
||||
Comprehensive loss (ADF-3, Note G)
|
(189
|
)
|
(141
|
)
|
||||
Contributions made available for operational commitment
|
13
|
(19
|
)
|
|||||
Net amortization of discount on donor's contribution
|
0
|
1
|
||||||
Demand obligations received
|
–
|
0
|
||||||
Encashment of demand obligations
|
20
|
63
|
||||||
Balance, 31 March
|
$
|
1,812
|
$
|
1,851
|
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Interest received from investments for liquidity purpose
|
$
|
33
|
$
|
30
|
||||
Interest received from securities purchased under resale arrangement
|
0
|
0
|
||||||
Administrative expenses paid
|
(28
|
)
|
(26
|
)
|
||||
Grants disbursed
|
(103
|
)
|
(46
|
)
|
||||
Net Cash Used in Operating Activities
|
(98
|
)
|
(42
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
4,469
|
5,759
|
||||||
Purchases of investments for liquidity purpose
|
(4,415
|
)
|
(5,767
|
)
|
||||
Receipts from securities purchased under resale arrangements
|
1,419
|
1,402
|
||||||
Payments for securities purchased under resale arrangements
|
(1,418
|
)
|
(1,396
|
)
|
||||
Net Cash Provided by (Used in) Investing Activities
|
55
|
(2
|
)
|
|||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Contributions received and encashed
|
29
|
44
|
||||||
Cash Provided by Financing Activities
|
29
|
44
|
||||||
Effect of Exchange Rate Changes on Due from Banks
|
0
|
(0
|
)
|
|||||
Net Decrease in Due from Banks
|
(14
|
)
|
(0
|
)
|
||||
Due from Banks at Beginning of Period
|
16
|
2
|
||||||
Due from Banks at End of Period
|
$
|
2
|
$
|
2
|
($ million)
|
||||||||||||||||
31 March 2025 | 31 December 2024 | |||||||||||||||
Fair Value
|
Amortized
Cost
|
Fair Value
|
Amortized
Cost
|
|||||||||||||
Due in one year or less
|
$
|
1,426
|
$
|
1,437
|
$
|
1,455
|
$
|
1,469
|
||||||||
Due after one year through five years
|
2,504
|
2,566
|
2,490
|
2,586
|
||||||||||||
Due after five years through ten years
|
711
|
733
|
686
|
731
|
||||||||||||
Due after ten years through fifteen years
|
3
|
3
|
6
|
6
|
||||||||||||
Total
|
$
|
4,644
|
$
|
4,739
|
$
|
4,637
|
$
|
4,792
|
($ million)
|
||||||||
|
31 March 2025
|
31 December 2024
|
||||||
As of
Amortized cost
|
$
|
4,540
|
$
|
4,503
|
||||
Fair value
|
4,444
|
4,348
|
||||||
Gross unrealized gains
|
16
|
4
|
||||||
Gross unrealized losses
|
(111
|
)
|
(159
|
)
|
||||
For the three months ended 31 March
|
2025
|
2024
|
||||||
Change in net unrealized losses from prior period
|
59
|
(22
|
)
|
($ million)
|
||||||||||||||||||||||||
|
One year or less
|
Over one year
|
Total
|
|||||||||||||||||||||
|
Fair
|
Unrealized
|
Fair
|
Unrealized
|
Fair
|
Unrealized
|
||||||||||||||||||
|
Value
|
Losses
|
Value
|
Losses
|
Value
|
Losses
|
||||||||||||||||||
As of 31 March 2025
|
||||||||||||||||||||||||
Government or government- related obligations
|
$
|
389
|
$
|
5
|
$
|
2,670
|
$
|
102
|
$
|
3,060
|
$
|
107
|
||||||||||||
Corporate obligations
|
31
|
0
|
161
|
4
|
192
|
4
|
||||||||||||||||||
Total
|
$
|
420
|
$
|
5
|
$
|
2,831
|
$
|
106
|
$
|
3,252
|
$
|
111
|
||||||||||||
As of 31 December 2024
|
||||||||||||||||||||||||
Government or government-related obligations
|
$
|
718
|
$
|
17
|
$
|
2,777
|
$
|
135
|
$
|
3,495
|
$
|
153
|
||||||||||||
Corporate obligations
|
76
|
0
|
170
|
6
|
246
|
6
|
||||||||||||||||||
Total
|
$
|
794
|
$
|
17
|
$
|
2,947
|
$
|
141
|
$
|
3,741
|
$
|
159
|
($ million)
|
||||||||||||||||
|
Fair Value Measurements
|
|||||||||||||||
|
Total
|
Level 1
|
Level 2
|
Level 3
|
||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
Government or government-
related obligations
|
$
|
3,679
|
$
|
3,492
|
$
|
187
|
$
|
–
|
||||||||
Time deposits
|
199
|
–
|
199
|
–
|
||||||||||||
Corporate obligations
|
766
|
766
|
–
|
–
|
||||||||||||
Securities purchased under resale arrangements
|
23
|
–
|
23
|
–
|
||||||||||||
Total at fair value
|
$
|
4,667
|
$
|
4,258
|
$
|
409
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
Government or government-
related obligations
|
$
|
3,641
|
$
|
3,470
|
$
|
171
|
$
|
–
|
||||||||
Time deposits
|
289
|
–
|
289
|
–
|
||||||||||||
Corporate obligations
|
707
|
707
|
–
|
–
|
||||||||||||
Securities purchased under resale arrangements
|
24
|
–
|
24
|
–
|
||||||||||||
Total at fair value
|
$
|
4,661
|
$
|
4,177
|
$
|
484
|
$
|
–
|
($ million)
|
||||||||
Accumulated other
comprehensive loss
|
||||||||
2025 |
2024 | |||||||
Balance, 1 January
|
$
|
(1,654
|
)
|
$
|
(1,685
|
)
|
||
|
||||||||
Unrealized Holding Gains (Losses) on Investments for Liquidity Purpose
Other comprehensive gains (losses) before reclassification
|
59
|
(22
|
)
|
|||||
Balance, 31 March
|
$
|
(1,595
|
)
|
$
|
(1,707
|
)
|
31 March
|
31 December
|
|||||||||||||||
ASSETS
|
(Unaudited)
|
(Audited)
|
||||||||||||||
DUE FROM BANKS (Note H)
|
$
|
5,737
|
$
|
7,553
|
||||||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE
|
||||||||||||||||
(Notes C and H)
Government or government-related obligations
|
$
|
386,443
|
$
|
352,280
|
||||||||||||
Time deposits
|
242,230
|
317,496
|
||||||||||||||
Corporate obligations
|
161,163
|
789,836
|
150,122
|
819,898
|
||||||||||||
ACCRUED REVENUE
|
3,666
|
3,512
|
||||||||||||||
DUE FROM CONTRIBUTORS (Note F)
|
41,778
|
39,217
|
||||||||||||||
ADVANCES FOR TECHNICAL ASSISTANCE (Note E)
|
2,933
|
4,579
|
||||||||||||||
OTHER ASSETS (Notes C and D)
|
766
|
2,227
|
||||||||||||||
TOTAL
|
$
|
844,716
|
$
|
876,986
|
LIABILITIES AND UNCOMMITTED BALANCES
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds (Note D)
|
$
|
386
|
$
|
464
|
||||||||||||
Deferred credits
|
500
|
$
|
886
|
– | $ |
464
|
||||||||||
UNDISBURSED TECHNICAL ASSISTANCE (Note E)
|
741,060
|
782,952
|
||||||||||||||
TOTAL LIABILITIES
|
741,946
|
783,416
|
||||||||||||||
UNCOMMITTED BALANCES (TASF-2), represented by:
|
||||||||||||||||
Net assets without donor restrictions
|
102,770
|
93,570
|
||||||||||||||
TOTAL
|
$
|
844,716
|
$
|
876,986
|
2025
|
2024
|
|||||||
CHANGES IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
||||||||
CONTRIBUTIONS (Note F)
|
$
|
3,242
|
$
|
–
|
||||
REVENUE
|
||||||||
From investments for liquidity purpose—net (Note C)
|
12,906
|
6,252
|
||||||
From other sources (Notes D)
|
2,633
|
2,614
|
||||||
Total
|
18,781
|
8,866
|
||||||
EXPENSES
|
||||||||
Technical assistance—net (Notes E and G)
|
(7,226
|
)
|
(5,042
|
)
|
||||
Administrative expenses (Note D)
|
(2,456
|
)
|
(2,452
|
)
|
||||
Financial expenses
|
(16
|
)
|
(14
|
)
|
||||
Total
|
(9,698
|
)
|
(7,508
|
)
|
||||
CONTRIBUTIONS AND REVENUE IN EXCESS OF EXPENSES
|
9,083
|
1,358
|
||||||
EXCHANGE GAINS (LOSSES)—net
|
117
|
(4,936
|
)
|
|||||
INCREASE (DECREASE) IN NET ASSETS
|
9,200
|
(3,578
|
)
|
|||||
NET ASSETS AT BEGINNING OF PERIOD
|
93,570
|
213,299
|
||||||
NET ASSETS AT END OF PERIOD
|
$
|
102,770
|
$
|
209,721
|
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Contributions received
|
$
|
1,276
|
$
|
111
|
||||
Interest received on investments for liquidity purpose
|
6,976
|
7,558
|
||||||
Technical assistance disbursed
|
(46,068
|
)
|
(47,549
|
)
|
||||
Financial expenses paid
|
(16
|
)
|
(14
|
)
|
||||
Others—net
|
178
|
162
|
||||||
Net Cash Used in Operating Activities
|
(37,654
|
)
|
(39,732
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
2,844,256
|
1,336,165
|
||||||
Purchases of investments for liquidity purpose
|
(2,808,418
|
)
|
(1,296,934
|
)
|
||||
Net Cash Provided by Investing Activities
|
35,838
|
39,231
|
||||||
Effect of Exchange Rate Changes on Due from Banks
|
(0
|
)
|
(2
|
)
|
||||
Net Decrease in Due from Banks
|
(1,816
|
)
|
(503
|
)
|
||||
Due from Banks at Beginning of Period
|
7,553
|
7,947
|
||||||
Due from Banks at End of Period
|
$
|
5,737
|
$
|
7,444
|
1
|
ADB. 2020. Board of Governors’ Resolution No.
408: Twelfth Replenishment of the Asian Development Fund and Seventh Regularized Replenishment of the Technical Assistance Special Fund.
|
2
|
ADB. 2024. Board of Governors’ Resolution No. 427 – Thirteenth
Replenishment of the Asian Development Fund and Eighth Regularized Replenishment of the Technical Assistance Special Fund.
|
($ thousand) |
||||||||||||||||||||||||
31 March 2025
|
31 December 2024
|
|||||||||||||||||||||||
Investments for liquidity
|
||||||||||||||||||||||||
purpose
|
0-1 year
|
> 1 year
|
Total
|
0-1 year
|
> 1 year
|
Total
|
||||||||||||||||||
Government or government- related obligations
|
$
|
92,078
|
$
|
294,365
|
$
|
386,443
|
$
|
64,658
|
$
|
287,622
|
$
|
352,280
|
||||||||||||
Time deposits
|
242,230
|
–
|
242,230
|
317,496
|
–
|
317,496
|
||||||||||||||||||
Corporate obligations
|
49,931
|
111,232
|
161,163
|
49,773
|
101,349
|
150,122
|
||||||||||||||||||
Total at fair value
|
$
|
384,239
|
$
|
405,597
|
$
|
789,836
|
$
|
431,927
|
$
|
387,971
|
$
|
819,898
|
($ thousand)
|
||||||||||||||||
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Government or government-related obligations
|
$
|
386,443
|
$
|
359,527
|
$
|
26,916
|
$
|
–
|
||||||||
Time deposits
|
242,230
|
–
|
242,230
|
–
|
||||||||||||
Corporate obligations
|
161,163
|
161,163
|
–
|
–
|
||||||||||||
Total at fair value
|
$
|
789,836
|
$
|
520,690
|
$
|
269,146
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Government or government-related obligations
|
$
|
352,280
|
$
|
299,736
|
$
|
52,544
|
$ |
–
|
||||||||
Time deposits
|
317,496
|
–
|
317,496
|
–
|
||||||||||||
Corporate obligations
|
150,122
|
150,122
|
–
|
–
|
||||||||||||
Total at fair value
|
$
|
819,898
|
$
|
449,858
|
$
|
370,040
|
$
|
–
|
($ thousand)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Receivable from:
|
||||||||
Regional Cooperation and Integration Fund—net
|
$
|
138
|
$
|
154
|
||||
Climate Change Fund—net
|
25
|
265
|
||||||
Japan Special Fund
|
9
|
68
|
||||||
Financial Sector Development Partnership Special Fund
|
–
|
7
|
||||||
Trust Funds—net
|
448
|
1,722
|
||||||
Total
|
$
|
620
|
$
|
2,216
|
||||
Payable to:
|
||||||||
Ordinary capital resources—net
|
$
|
247
|
$
|
463
|
||||
Financial Sector Development Partnership Special Fund
|
2
|
–
|
||||||
Total
|
$
|
249
|
$
|
463
|
($ thousand) | ||||||||
31 March 2025
|
31 March 2024
|
|||||||
Direct Voluntary
|
$
|
–
|
$
|
70
|
||||
Regularized Replenishments
|
||||||||
ADF 14
|
$
|
810
|
$
|
–
|
||||
ADF 13
|
–
|
131
|
||||||
ADF 12
|
–
|
–
|
||||||
ADF IX
|
–
|
–
|
||||||
810
|
131
|
|||||||
Total
|
$
|
810
|
$
|
201
|
($ thousand) | ||||||||
31 March 2025
|
31 December 2024
|
|||||||
Direct Voluntary
|
$
|
–
|
$
|
–
|
||||
Regularized Replenishments
|
||||||||
ADF 14
|
$
|
2,412
|
$
|
–
|
||||
ADF 13
|
15,779
|
15,779
|
||||||
ADF X
|
19,470
|
19,342
|
||||||
ADF IX
|
4,117
|
4,096
|
||||||
41,778
|
39,217
|
|||||||
Total
|
$
|
41,778
|
$
|
39,217
|
($ thousand) | ||||||||
2025
|
2024
|
|||||||
Consultants
|
$
|
7,703
|
$
|
9,619
|
||||
Trainings and seminars
|
3,859
|
1,202
|
||||||
Studies
|
170
|
108
|
||||||
Equipment
|
10
|
22
|
||||||
Other expenses—neta
|
(4,516
|
)
|
(5,909
|
)
|
||||
Total
|
$
|
7,226
|
$
|
5,042
|
31 March
|
31 December
|
|||||||||||||||
(Unaudited)
|
(Audited)
|
|||||||||||||||
ASSETS
|
||||||||||||||||
DUE FROM BANKS (Note G)
|
$
|
1,052
|
$
|
1,046
|
||||||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and G)
|
||||||||||||||||
Time deposits
|
124,464
|
123,205
|
||||||||||||||
ACCRUED REVENUE
|
356
|
929
|
||||||||||||||
ADVANCES FOR TECHNICAL ASSISTANCE (Note E)
|
1
|
2
|
||||||||||||||
TOTAL
|
$
|
125,873
|
$
|
125,182
|
||||||||||||
LIABILITIES AND NET ASSETS
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds (Note D)
|
$
|
16
|
$
|
92
|
||||||||||||
Accrued expenses
|
–
|
$
|
16
|
20
|
$
|
112
|
||||||||||
UNDISBURSED TECHNICAL ASSISTANCE (Note E)
|
18,449
|
14,192
|
||||||||||||||
TOTAL LIABILITIES
|
18,465
|
14,304
|
||||||||||||||
UNCOMMITTED BALANCES (JSF-2), represented by:
Net assets without donor restrictions
|
107,408
|
110,878
|
||||||||||||||
TOTAL
|
$
|
125,873
|
$
|
125,182
|
||||||||||||
2025
|
2024
|
|||||||
CHANGES IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
||||||||
REVENUE
|
||||||||
From investments for liquidity purpose (Note C)
|
$
|
1,386
|
$
|
1,609
|
||||
From other sources
|
10
|
35
|
||||||
Total
|
1,396
|
1,644
|
||||||
EXPENSES
|
||||||||
Technical assistance (Notes E and F)
|
(4,850
|
)
|
(750
|
)
|
||||
Administrative expenses (Note F)
|
(16
|
)
|
(15
|
)
|
||||
Total
|
(4,866
|
)
|
(765
|
)
|
||||
(DECREASE) INCREASE IN NET ASSETS
|
(3,470
|
)
|
879
|
|||||
NET ASSETS AT BEGINNING OF PERIOD
|
110,878
|
112,123
|
||||||
NET ASSETS AT END OF PERIOD
|
$
|
107,408
|
$
|
113,002
|
||||
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Interest received on investments for liquidity purpose
|
$
|
1,959
|
$
|
1,141
|
||||
Net cash received from other sources
|
10
|
35
|
||||||
Technical assistance disbursed
|
(669
|
)
|
(80
|
)
|
||||
Administrative expenses paid
|
(35
|
)
|
(37
|
)
|
||||
Net Cash Provided by Operating Activities
|
1,265
|
1,059
|
||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
328,385
|
974,451
|
||||||
Purchases of investments for liquidity purpose
|
(329,644
|
)
|
(979,492
|
)
|
||||
Net Cash Used in Investing Activities
|
(1,259
|
)
|
(5,041
|
)
|
||||
Net Increase (Decrease) in Due From Banks
|
6
|
(3,982
|
)
|
|||||
Due from Banks at Beginning of Period
|
1,046
|
4,959
|
||||||
Due from Banks at End of Period
|
$
|
1,052
|
$
|
977
|
||||
($ thousand) | ||||||||||||||||
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
124,464
|
$
|
–
|
$
|
124,464
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
123,205
|
$
|
–
|
$
|
123,205
|
$
|
–
|
($ thousand) | ||||||||
31 March 2025
|
31 December 2024
|
|||||||
Payable to:
|
||||||||
Ordinary capital resources—net
|
$
|
7
|
$
|
9
|
||||
Technical Assistance Special Fund
|
9
|
68
|
||||||
Trust Funds
|
–
|
15
|
||||||
Total
|
$
|
16
|
$
|
92
|
($ thousand) | ||||||||
2025
|
2024
|
|||||||
Consultants
|
$
|
3,997
|
$
|
479
|
||||
Trainings and seminars
|
526
|
140
|
||||||
Studies
|
180
|
–
|
||||||
Other expenses
|
147
|
131
|
||||||
Total
|
$
|
4,850
|
$
|
750
|
31 March
|
31 December
|
|||||||||||||||
ASSETS
|
(Unaudited)
|
(Audited)
|
||||||||||||||
DUE FROM BANKS (Note I)
|
$
|
13,378
|
$
|
10,259
|
||||||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and I)
|
||||||||||||||||
Time deposits
|
11,068
|
11,640
|
||||||||||||||
PROPERTY, FURNITURE, AND EQUIPMENT (Note D)
|
||||||||||||||||
Property, Furniture, and Equipment
|
$
|
4,404
|
$
|
4,677
|
||||||||||||
Less—allowance for depreciation
|
2,119
|
2,285
|
2,003
|
2,674
|
||||||||||||
DUE FROM CONTRIBUTORS (Note F)
|
167
|
4,452
|
||||||||||||||
LONG-TERM GUARANTEE DEPOSITS (Note E)
|
950
|
908
|
||||||||||||||
OTHER ASSETS (Note G)
|
437
|
470
|
TOTAL
|
$
|
28,285
|
$
|
30,403
|
||||||||||||
LIABILITIES AND UNCOMMITTED
BALANCES
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Accrued pension and postretirement
|
||||||||||||||||
medical benefit costs
|
$
|
3,598
|
$
|
3,621
|
||||||||||||
Asset reinstatement obligations (Note E)
|
1,335
|
1,275
|
||||||||||||||
Lease liability (Note E)
|
1,801
|
2,190
|
||||||||||||||
Others (Note H)
|
1,661
|
$
|
8,395
|
1,463
|
$
|
8,549
|
||||||||||
UNCOMMITTED BALANCES (ADBI-2), represented by:
|
||||||||||||||||
Net assets without donor restrictions
|
18,782
|
20,631
|
||||||||||||||
Net assets with donor restrictions (Note G)
|
1,108
|
19,890
|
1,223
|
21,854
|
||||||||||||
TOTAL
|
$
|
28,285
|
$
|
30,403
|
|
2025
|
|
|
2024
|
|
|||
CHANGES IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
REVENUE
|
|
|
|
|
|
|
||
From rental (Note G)
|
|
$
|
57
|
|
|
$
|
60
|
|
From investments for liquidity purpose (Note C)
|
|
|
125
|
|
|
|
154
|
|
From other sources—net (Notes G and H)
|
|
|
187
|
|
|
|
193
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS RELEASED FROM ASSETS WITH DONOR RESTRICTIONS (Note G)
|
|
|
121
|
|
|
|
64
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
490
|
|
|
|
471
|
|
|
|
|
|
|
|
|
|
|
EXPENSES
|
|
|
|
|
|
|
|
|
Administrative expenses (Notes G and H)
|
|
|
(1,834
|
)
|
|
|
(1,992
|
)
|
Program expenses (Note G)
|
|
|
(1,049
|
)
|
|
|
(1,577
|
)
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
(2,883
|
)
|
|
|
(3,569
|
)
|
|
|
|
|
|
|
|
|
|
REVENUE LESS THAN EXPENSES
|
|
|
(2,393
|
)
|
|
|
(3,098
|
)
|
|
|
|
|
|
|
|
|
|
EXCHANGE GAINS (LOSSES)—net
|
|
|
725
|
|
|
|
(949
|
)
|
|
|
|
|
|
|
|
|
|
TRANSLATION ADJUSTMENTS
|
|
|
(181
|
)
|
|
|
(100
|
)
|
|
|
|
|
|
|
|
|
|
DECREASE IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
|
|
(1,849
|
)
|
|
|
(4,147
|
)
|
|
|
|
|
|
|
|
|
|
CHANGES IN NET ASSETS WITH DONOR RESTRICTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REVENUE FROM OTHER SOURCES (Note G)
|
|
|
6
|
|
|
|
7
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS RELEASED TO ASSETS WITHOUT DONOR RESTRICTIONS (Note G)
|
|
|
(121
|
)
|
|
|
(64
|
)
|
|
|
|
|
|
|
|
|
|
DECREASE IN NET ASSETS WITH DONOR RESTRICTIONS
|
|
|
(115
|
)
|
|
|
(57
|
)
|
|
|
|
|
|
|
|
|
|
DECREASE IN NET ASSETS
|
|
|
(1,964
|
)
|
|
|
(4,204
|
)
|
|
|
|
|
|
|
|
|
|
NET ASSETS AT BEGINNING OF PERIOD
|
|
|
21,854
|
|
|
|
26,165
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS AT END OF PERIOD
|
|
$
|
19,890
|
|
|
$
|
21,961
|
|
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Contributions received
|
$
|
4,331
|
$
|
5,017
|
||||
Interest received on investments for liquidity
purpose
|
128
|
160
|
||||||
Expenses paid
|
(2,645
|
)
|
(3,448
|
)
|
||||
Others—net
|
982
|
(675
|
)
|
|||||
Net Cash Provided by Operating Activities
|
2,796
|
1,054
|
||||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
72,781
|
81,881
|
||||||
Purchases of investments for liquidity purpose
|
(72,209
|
)
|
(82,341
|
)
|
||||
Net Cash Provided by (Used in) Investing
Activities
|
572
|
(460
|
)
|
|||||
Effect of Exchange Rate Changes on Due from
Banks
|
(249
|
)
|
187
|
|||||
Net Increase in Due From Banks
|
3,119
|
781
|
||||||
Due From Banks at Beginning of Period
|
10,259
|
13,514
|
||||||
Due From Banks at End of Period
|
$
|
13,378
|
$
|
14,295
|
Fair Value Measurements
|
||||||||||||||||
31 March 2025
|
Total
|
Level 1
|
Level 2
|
Level 3
|
||||||||||||
Investments for liquidity purpose
|
|
|
|
|
||||||||||||
Time deposits
|
$ |
11,068
|
$ |
–
|
$ |
11,068
|
$ |
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
11,640
|
$
|
–
|
$
|
11,640
|
$
|
–
|
(in thousands)
|
||||||||||
Amount of commitment
|
Commitment
|
|||||||||
Donor
|
LC
|
USDa
|
date
|
Receipt date
|
||||||
Government of Japan
|
||||||||||
45th contribution
|
|
¥672,069
|
$
|
4,285
|
December 2024
|
January 2025
|
||||
43rd contribution
|
|
¥743,069
|
$
|
5,268
|
December 2023
|
January 2024
|
($ thousand)
|
||||||||
Salaries and benefits
|
2025
|
2024
|
||||||
$
|
949
|
$
|
1,058
|
|||||
Office and occupancya
|
574
|
667
|
||||||
External services
|
191
|
178
|
||||||
Travel
|
48
|
65
|
||||||
Other expenses
|
72
|
24
|
||||||
Total Administrative Expenses
|
$
|
1,834
|
$
|
1,992
|
($ thousand)
|
||||||||
Trainings and seminars
|
2025
|
2024
|
||||||
$
|
792
|
$
|
1,312
|
|||||
Consultants
|
257
|
265
|
||||||
Total Program Expenses
|
$
|
1,049
|
$
|
1,577
|
31 March
|
31 December
|
|||||||||||
(Unaudited)
|
(Audited)
|
|||||||||||
ASSETS
|
||||||||||||
DUE FROM BANKS (Note G)
|
$
|
1,004
|
$
|
1,019
|
||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and G)
|
||||||||||||
Time deposits
|
12,962
|
14,461
|
||||||||||
ACCRUED REVENUE
|
31
|
79
|
||||||||||
ADVANCES FOR TECHNICAL ASSISTANCE (Note E)
|
69
|
107
|
||||||||||
OTHER ASSETS (Note D)
|
–
|
1
|
||||||||||
TOTAL
|
$
|
14,066
|
$
|
15,667
|
LIABILITIES AND UNCOMMITTED BALANCES
|
||||||||||||||||
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds (Note D)
|
$
|
163
|
$
|
234
|
||||||||||||
Accrued Expenses
|
–
|
$
|
163
|
20
|
$
|
254
|
||||||||||
UNDISBURSED TECHNICAL ASSISTANCE (Note E)
|
12,106
|
13,857
|
||||||||||||||
TOTAL LIABILITIES
|
12,269
|
14,111
|
||||||||||||||
UNCOMMITTED BALANCES (RCIF-2), represented by:
Net assets without donor restrictions
|
1,797
|
1,556
|
||||||||||||||
TOTAL
|
$
|
14,066
|
$
|
15,667
|
2025
|
2024
|
|||||||
CHANGES IN NET ASSETS WITHOUT DONOR
RESTRICTIONS
|
||||||||
REVENUE
|
||||||||
From investments for liquidity purpose
(Note C)
|
$
|
152
|
$
|
274
|
||||
From other sources
|
0
|
3
|
||||||
Total
|
152
|
277
|
||||||
EXPENSES
|
||||||||
Technical assistance—net (Notes E and F)
|
168
|
492
|
||||||
Administrative and financial expenses
(Notes D and F)
|
(80
|
)
|
(99
|
)
|
||||
Total
|
88
|
393
|
||||||
REVENUE IN EXCESS OF EXPENSES
|
240
|
670
|
||||||
EXCHANGE GAINS (LOSSES)—net
|
1
|
(5
|
)
|
|||||
INCREASE IN NET ASSETS
|
241
|
665
|
||||||
NET ASSETS AT BEGINNING OF PERIOD
|
1,556
|
639
|
||||||
NET ASSETS AT END OF PERIOD
|
$
|
1,797
|
$
|
1,304
|
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Interest received on investments for
liquidity purpose
|
$
|
200
|
$
|
212
|
||||
Cash received from other sources
|
0
|
3
|
||||||
Technical assistance disbursed
|
(1,594
|
)
|
(1,721
|
)
|
||||
Administrative and financial expenses paid
|
(120
|
)
|
(149
|
)
|
||||
Net Cash Used in Operating Activities
|
(1,514
|
)
|
(1,655
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity
purpose
|
66,489
|
183,104
|
||||||
Purchases of investments for liquidity
purpose
|
(64,990
|
)
|
(182,716
|
)
|
||||
Net Cash Provided by Investing Activities
|
1,499
|
388
|
||||||
Net Decrease in Due From Banks
|
(15
|
)
|
(1,267
|
)
|
||||
Due from Banks at Beginning of Period
|
1,019
|
2,309
|
||||||
Due from Banks at End of Period
|
$
|
1,004
|
$
|
1,042
|
($ thousand)
|
||||||||||||||||
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
12,962
|
$
|
–
|
$
|
12,962
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
14,461
|
$
|
–
|
$
|
14,461
|
$
|
–
|
($ thousand)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Receivable from:
|
||||||||
Trust Funds
|
$
|
–
|
$
|
1
|
||||
Total
|
$
|
–
|
$
|
1
|
||||
Payable to:
|
||||||||
Ordinary capital resources—net
|
$
|
25
|
$
|
75
|
||||
Technical Assistance Special Fund—net
|
138
|
154
|
||||||
Trust Funds
|
–
|
4
|
||||||
Total
|
$
|
163
|
$
|
234
|
($ thousand)
|
||||||||
2025
|
2024
|
|||||||
Other expensesa
|
$
|
(168
|
)
|
$
|
(492
|
)
|
($ thousand)
|
||||||||
2025
|
2024
|
|||||||
Service fees to OCR (Note D)
|
$
|
79
|
$
|
98
|
||||
Financial expenses
|
1
|
1
|
||||||
Total
|
$
|
80
|
$
|
99
|
31 March
|
31 December
|
|||||||||||
(Unaudited)
|
(Audited)
|
|||||||||||
ASSETS
|
||||||||||||
DUE FROM BANKS (Note G)
|
$
|
1,052
|
$
|
1,059
|
||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and G)
|
||||||||||||
Time deposits
|
24,060
|
24,790
|
||||||||||
ACCRUED REVENUE
|
61
|
158
|
||||||||||
ADVANCES UNDER TECHNICAL ASSISTANCE
|
||||||||||||
AND GRANTS (Note E)
|
311
|
278
|
||||||||||
OTHER ASSETS
|
–
|
3
|
||||||||||
TOTAL
|
$
|
25,484
|
$
|
26,288
|
||||||||
LIABILITIES AND UNCOMMITTED BALANCES
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds (Note D)
|
$
|
58
|
$
|
344
|
||||||||||||
Accrued expenses
|
-
|
$
|
58
|
312
|
$
|
656
|
||||||||||
UNDISBURSED TECHNICAL ASSISTANCE
|
||||||||||||||||
AND GRANTS (Note E)
|
13,480
|
13,274
|
||||||||||||||
TOTAL LIABILITIES
|
13,538
|
13,930
|
||||||||||||||
UNCOMMITTED BALANCES (CCF-2), represented by:
|
||||||||||||||||
Net assets without donor restrictions
|
11,946
|
12,358
|
||||||||||||||
TOTAL
|
$
|
25,484
|
$
|
26,288
|
||||||||||||
2025
|
2024
|
|||||||
CHANGES IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
||||||||
REVENUE
|
||||||||
From investments for liquidity purpose (Note C)
|
273
|
411 | ||||||
From other sources
|
10
|
21
|
||||||
Total
|
283
|
432
|
||||||
EXPENSES
|
||||||||
Technical assistance (Notes E and F)
|
37
|
(400
|
)
|
|||||
Grants (Note E)
|
(900
|
)
|
(2,000
|
)
|
||||
Administrative and other expenses (Notes D and F)
|
168
|
(539
|
)
|
|||||
Total
|
(695
|
)
|
(2,939
|
)
|
||||
DECREASE IN NET ASSETS
|
(412
|
)
|
(2,507
|
)
|
||||
NET ASSETS AT BEGINNING OF PERIOD
|
12,358
|
14,550
|
||||||
NET ASSETS AT END OF PERIOD
|
$
|
11,946
|
$
|
12,043
|
||||
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Interest received on investments for liquidity purpose
|
370
|
309
|
||||||
Cash received from other activities
|
10
|
21
|
||||||
Technical assistance and grants disbursed
|
(947
|
)
|
(1,442
|
)
|
||||
Administrative and other expenses paid
|
(170
|
)
|
(307
|
)
|
||||
Net Cash Used in Operating Activities
|
(737
|
)
|
(1,419
|
)
|
||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
96,573
|
265,715
|
||||||
Purchases of investments for liquidity purpose
|
(95,843
|
)
|
(265,824
|
)
|
||||
Net Cash Provided by (Used in) Investing Activities
|
730
|
(109
|
)
|
|||||
Net Decrease in Due From Banks
|
(7
|
)
|
(1,528
|
)
|
||||
Due from Banks at Beginning of Period
|
1,059
|
2,098
|
||||||
Due from Banks at End of Period
|
$
|
1,052
|
$
|
570
|
($ thousand)
|
||||||||||||||||
|
Fair Value Measurements
|
|||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
24,060
|
$
|
–
|
$
|
24,060
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
24,790
|
$
|
–
|
$
|
24,790
|
$
|
–
|
($ thousand)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Payable to:
|
||||||||
Ordinary capital resources—net
|
$
|
33
|
$
|
62
|
||||
Technical Assistance Special Fund—net
|
25
|
265
|
||||||
Trust Funds
|
–
|
17
|
||||||
Total
|
$
|
58
|
$
|
344
|
($ thousand)
|
||||||||
2025
|
2024
|
|||||||
Consultants
|
$
|
–
|
$
|
369
|
||||
Studies
|
–
|
8
|
||||||
Other expenses—net
|
(37
|
)a
|
23
|
|||||
Total
|
$
|
(37
|
)
|
$
|
400
|
($ thousand)
|
||||||||
2025
|
2024
|
|||||||
Administrative expenses
|
||||||||
Service fees to OCR (Note D)
|
$
|
33
|
$
|
78
|
||||
Other expenses
|
||||||||
Direct charges
|
||||||||
Consultants
|
(201
|
)
|
461
|
|||||
Total
|
$
|
(168
|
)
|
$
|
539
|
31 March
|
31 December
|
|||||||||||||||
(Unaudited)
|
(Audited)
|
|||||||||||||||
ASSETS
|
||||||||||||||||
DUE FROM BANKS (Note H)
|
$
|
2,815
|
$
|
2,840
|
||||||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and H)
|
||||||||||||||||
Time deposits
|
29,590
|
31,643
|
||||||||||||||
ACCRUED REVENUE
|
55
|
174
|
||||||||||||||
ADVANCES FOR GRANTS (Note E)
|
5,300
|
2,800
|
||||||||||||||
TOTAL
|
$
|
37,760
|
$
|
37,457
|
||||||||||||
LIABILITIES AND UNCOMMITTED BALANCES
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds (Note D)
|
$
|
293
|
$
|
266
|
||||||||||||
Accrued expenses
|
|
–
|
$ | 293 |
|
20
|
$ | 286 | ||||||||
UNDISBURSED GRANTS (Note E)
|
7,300
|
2,800
|
||||||||||||||
TOTAL LIABILITIES
|
7,593
|
3,086
|
||||||||||||||
UNCOMMITTED BALANCES (APDRF-2, Note F), represented by:
|
||||||||||||||||
Net assets without donor restrictions
|
30,167
|
34,371
|
||||||||||||||
TOTAL
|
$
|
37,760
|
$
|
37,457
|
||||||||||||
2025
|
2024
|
|||||||
CHANGES IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
||||||||
REVENUE
|
||||||||
From investments for liquidity purpose (Note C)
|
$
|
327
|
$
|
577
|
||||
From other sources
|
7
|
25
|
||||||
Total
|
334
|
602
|
||||||
EXPENSES
|
||||||||
Grants—net (Note E)
|
(4,500
|
)
|
197
|
|||||
Administrative and other expenses (Notes D and G)
|
(38
|
)
|
(20
|
)
|
||||
Total
|
(4,538
|
)
|
177
|
|||||
(DECREASE) INCREASE IN NET ASSETS
|
(4,204
|
)
|
779
|
|||||
NET ASSETS AT BEGINNING OF PERIOD
|
34,371
|
47,013
|
||||||
NET ASSETS AT END OF PERIOD
|
$
|
30,167
|
$
|
47,792
|
||||
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Interest received on investments for liquidity purpose
|
$
|
447
|
$
|
539
|
||||
Cash received from other sources
|
7
|
25
|
||||||
Grants disbursed
|
(2,500
|
)
|
(500
|
)
|
||||
Administrative and other expenses paid
|
(32
|
)
|
(44
|
)
|
||||
Net Cash (Used in) Provided by Operating Activities
|
(2,078
|
)
|
20
|
|||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
206,313
|
482,096
|
||||||
Purchases of investments for liquidity purpose
|
(204,260
|
)
|
(488,635
|
)
|
||||
Net Cash Provided by (Used in) Investing Activities
|
2,053
|
(6,539
|
)
|
|||||
Net Decrease in Due From Banks
|
(25
|
)
|
(6,519
|
)
|
||||
Due from Banks at Beginning of Period
|
2,840
|
9,722
|
||||||
Due from Banks at End of Period
|
$
|
2,815
|
$
|
3,203
|
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
31 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
29,590
|
$
|
–
|
$
|
29,590
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
31,643
|
$
|
–
|
$
|
31,643
|
$
|
–
|
($ thousand)
|
||||||||
31 March 2025
|
31 December 2024
|
|||||||
Payable to:
|
||||||||
Ordinary capital resources
|
$
|
26
|
$
|
–
|
||||
JFPR (Note F)
|
267
|
266
|
||||||
Total
|
$
|
293
|
$
|
266
|
($ thousand) | ||||||||
2025 |
2024 | |||||||
Administrative expenses
|
||||||||
Service fees to OCR (Note D)
|
$
|
–
|
$
|
20
|
||||
Other expenses
|
||||||||
Direct charges
|
||||||||
Consultants
|
38
|
0
|
||||||
Total
|
$
|
38
|
$
|
20
|
31 March
|
31 December
|
|||||||||||||||
(Unaudited)
|
(Audited)
|
|||||||||||||||
ASSETS
|
||||||||||||||||
DUE FROM BANKS (Note G)
|
$
|
390
|
$
|
557
|
||||||||||||
INVESTMENTS FOR LIQUIDITY PURPOSE (Notes C and G)
Time deposits
|
10,004
|
10,458
|
||||||||||||||
ACCRUED REVENUE
|
21
|
53
|
||||||||||||||
ADVANCES FOR TECHNICAL ASSISTANCE (Note E)
|
7
|
8
|
||||||||||||||
OTHER ASSETS (Note D)
|
2
|
–
|
||||||||||||||
TOTAL
|
$
|
10,424
|
$
|
11,076
|
LIABILITIES AND UNCOMMITTED BALANCES
|
||||||||||||||||
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||
Payable to related funds (Note D)
|
$
|
10
|
$
|
21
|
||||||||||||
Accrued Expenses
|
–
|
$
|
10
|
20
|
$
|
41
|
||||||||||
UNDISBURSED TECHNICAL ASSISTANCE (Notes E and F)
|
8,517
|
9,830
|
||||||||||||||
TOTAL LIABILITIES
|
8,527
|
9,871
|
||||||||||||||
UNCOMMITTED BALANCES (FSDPSF-2), represented by:
Net assets without donor restrictions
|
1,897
|
1,205
|
||||||||||||||
TOTAL
|
$
|
10,424
|
$
|
11,076
|
2025
|
2024
|
|||||||
CHANGES IN NET ASSETS WITHOUT DONOR RESTRICTIONS
|
||||||||
REVENUE
|
||||||||
From investments for liquidity purpose (Note C)
|
113
|
144
|
||||||
From other sources
|
2
|
11
|
||||||
Total
|
115
|
155
|
||||||
EXPENSES
|
||||||||
Technical assistance—net (Notes E and F)
|
612
|
(350
|
)
|
|||||
Administrative expenses (Notes D and F)
|
(35
|
)
|
(24
|
)
|
||||
Total
|
577
|
(374
|
)
|
|||||
REVENUE IN EXCESS OF (LESS THAN) EXPENSES
|
692
|
(219
|
)
|
|||||
EXCHANGE LOSSES—net
|
(0
|
)
|
(38
|
)
|
||||
INCREASE (DECREASE) IN NET ASSETS
|
692
|
(257
|
)
|
|||||
NET ASSETS AT BEGINNING OF PERIOD
|
1,205
|
4,894
|
||||||
NET ASSETS AT END OF PERIOD
|
$
|
1,897
|
$
|
4,637
|
2025
|
2024
|
|||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Contributions received
|
$
|
–
|
$
|
2,170
|
||||
Interest received on investments for liquidity purpose
|
145
|
116
|
||||||
Cash received from other sources
|
2
|
11
|
||||||
Technical assistance disbursed
|
(715
|
)
|
(442
|
)
|
||||
Administrative expenses paid
|
(53
|
)
|
(45
|
)
|
||||
Net Cash (Used in) Provided by Operating Activities
|
(621
|
)
|
1,810
|
|||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Maturities of investments for liquidity purpose
|
58,014
|
104,042
|
||||||
Purchases of investments for liquidity purpose
|
(57,560
|
)
|
(107,558
|
)
|
||||
Net Cash Provided by (Used in) Investing Activities
|
454
|
(3,516
|
)
|
|||||
Net Decrease in Due From Banks
|
(167
|
)
|
(1,706
|
)
|
||||
Due from Banks at Beginning of Period
|
557
|
2,262
|
||||||
Due from Banks at End of Period
|
$
|
390
|
$
|
556
|
($ thousand) | ||||||||||||||||
Fair Value Measurements
|
||||||||||||||||
Total
|
Level 1
|
Level 2
|
Level 3
|
|||||||||||||
30 March 2025
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
10,004
|
$
|
–
|
$
|
10,004
|
$
|
–
|
||||||||
31 December 2024
|
||||||||||||||||
Investments for liquidity purpose
|
||||||||||||||||
Time deposits
|
$
|
10,458
|
$
|
–
|
$
|
10,458
|
$
|
–
|
($ thousand) | ||||||||
31 March 2025
|
31 December 2024
|
|||||||
Receivable from:
|
||||||||
Technical Assistance Special Fund
|
$
|
2
|
$
|
–
|
||||
Total
|
$
|
2
|
$
|
–
|
||||
Payable to:
|
||||||||
Ordinary capital resources–net
|
$
|
10
|
$
|
14
|
||||
Technical Assistance Special Fund–net
|
–
|
7
|
||||||
Total
|
$
|
10
|
$
|
21
|
($ thousand) | ||||||||
2025
|
2024
|
|||||||
Consultants
|
$
|
–
|
$
|
202
|
||||
Trainings and Seminars
|
–
|
130
|
||||||
Other expenses–neta
|
(612
|
)a
|
18
|
|||||
Total
|
$
|
(612
|
)
|
$
|
350
|