ADB President: ADB to set up $3 bln emergency loan facility to combat crisis

BALI, Indonesia. May 2. KAZINFORM Haruhiko Kuroda, president of the Asian Development Bank, announced here on Saturday the lender would establish a 3-billion-U.S. dollar emergency loan facility to help developing member countries cope with the financial crisis in 2009-2010, Kazinform refers to Xinhuanet.
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The mechanism, Countercyclical Support Facility (CSF), would provide emergency loans faster and cheaper under ADB's existing special loan facilities, Kuroda said. See Xinhuanet for full version.
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