The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Coronavirus: The Asian Development Bank prepares for an uncertain future

The ADB’s policy chief tells Euromoney the Manila multilateral is ready for the worst, but wonders what world will emerge from Covid-19, as sovereign states balk at funding needs, and commercial banks step back from funding infrastructure.

earth-question-mark-idea-780.jpg



The coronavirus will affect the face and focus of development banks and commercial lenders, undermine balance sheets and credit ratings of sovereign states, and even alter how and if multilaterals fund themselves, a top development official warns.

In an interview with Euromoney, Tomoyuki Kimura, director general in charge of strategy, policy and partnerships at the Asian Development Bank (ADB), says the scale of the financial aid to be extended to member countries due to Covid-19 “will be far greater than the support they needed at the time of the Lehman shock”.

Tomoyuki_Kimura-ADB-160x186.png

Tomoyuki Kimura,
ADB

Kimura describes the coronavirus as a “more complex” challenge than the global financial crisis (GFC), which he watched unfold from his office in Manila. He said commercial banks had to balance the conflicting needs of shareholders and society, and determine what comes first, profit or people.




You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree